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PRESENTATION TRADE AND INVESTMENT PROMOTION SEMINAR HOSTED BY THE MCCI by BONAVENTURA HINDA COMMERCIAL COUNSELLOR HIGH COMMISSION OF THE REPUBLIC OF NAMIBIA.

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Presentation on theme: "PRESENTATION TRADE AND INVESTMENT PROMOTION SEMINAR HOSTED BY THE MCCI by BONAVENTURA HINDA COMMERCIAL COUNSELLOR HIGH COMMISSION OF THE REPUBLIC OF NAMIBIA."— Presentation transcript:

1 PRESENTATION TRADE AND INVESTMENT PROMOTION SEMINAR HOSTED BY THE MCCI by BONAVENTURA HINDA COMMERCIAL COUNSELLOR HIGH COMMISSION OF THE REPUBLIC OF NAMIBIA PRETORIA, SOUTH AFRICA WEDESDAY, 29 OCTOBER 2013 MANGAUNG, FREE STATE PROVINCE, SOUTH AFRICA

2 Namibia at a Glance Macro Economy Namibia – Competitiveness in Global Context Trade Investment - Policy Framework Investment - Opportunities Investment - Incentives Starting a Business in Namibia High Commission - Commercial Office Support Presentation Outline

3 Namibia at a Glance Area: 824,269 square kilometres Population (2013): 2.1 million Currency: 1 N$ = 1 ZAR Language: English is the official language Regions: 13 Regions Democratic and Politically Stable: General Elections every 5 years Next Election - 2014

4 Macro economy - Indicators GDP at Current Prices N$ 121 034 (000) (2013 est.) Real GDP Growth 4.7% (2013 est.) NCPI (Annual est - 2013) 6.3% Repo Rate (Current) 5.50% Prime Rate (Current) 9.25% Gini Coefficient 0.58% Unemployment Rate 27.4%

5 Macro economy– GDP Growth

6 Macro economy – Key Sectors Primary Sector Agriculture and Forestry 4.1% Mining and Quarrying 11.5% Fisheries 3% Secondary Sector Manufacturing 11.6% Construction 3.6% Utilities 2.3% Tertiary Sector Wholesale & Retail 12% Tourism (Hotels & Res only) 1.7% Transport & Communication 4.9% Financial Intermediation 5.2% Real Estate 7.4% Government 25%

7 Taxation – 2013/14 Income tax: 18% - 37% General corporate tax: 32% Reg. Manufacturers 18% Value Added Tax (VAT): 15% Diamond mining 55% Other mining 37.5% Petroleum 35% Royalty Tax 30% Withholding tax (non-residents): 10% of dividends Duties Excise: Alcohol, Cigarettes etc Ad Valorem: Luxury Items Customs: Tv, Clothes, Tyres Macro economy – Fiscal Policy

8 Namibia - Global Competitiveness Global Retail Development Index (GRDI 2013 ) Ranking the top 30 developing countries – (Only 2 out of Africa) - Botswana: Strong retail growth - ranked 25 th - Namibia: Rising regional star - ranked 26 th Frazer Institute Annual Survey of Mining 2012/2013 - Namibia: ranked 3 rd after Botswana and Morocco World Economic Forum 2013 Competitiveness Ranking (144 economies) - Namibia: Ranked Globally - 90 th – Africa – 8 th

9 Trade - Market Access Trade Agreements: Africa – SACU and SADC EU – SADC/EU (EPA Negotiations) USA – AGOA South America – SACU/ MERCOSUR Asia – SACU/India (Negotiations)

10 Trade - Top 10 Trading Partners 2012 Imports South Africa – 41 701 508 467 Switzerland China EPZ United Kingdom Germany Zambia Botswana Netherlands Singapore Exports South Africa – 7 693 917 881 United Kingdom Angola Belgium Botswana Canada Spain Switzerland EPZ United States of America

11 Investment - Policy Framework Foreign Investment Act, No. 24 of 1993 (Review) Export Processing Zone (EPZ) Act, No. 9 of 1995 (Review) Namibian Industrial Policy (Finalized 2012)

12 Investment - Opportunities Investment Opportunities Mineral Exploration & Beneficiation Manufacturing Logistics Information Technology (IT) Tourism Agriculture & Agro- processing Education, Skills Training Infrastructure Energy Health & Pharmaceuticals

13 Investment Opportunities - Energy Namibian Power Supply

14 Investment Opportunities – Manufacturing Trade Deficit Nam vs RSA Main Exports Manufactured Prod Diamonds Metal Ores include Uranium Fish and Marine Products Beverages Refined Zinc Live Animals Meat and Processed Meat Copper Crops, Fruit & Veg, Forestry Main Imports Chem, Rubber, Plastic Transport Equipment Machinery and Equipment Refined Petroleum Food Prod/Consumables Textile, Clothing, Leather Fabricated and Basic Metal Non-metallic Mineral Electrical Machinery Paper Products 2012 Imports – N$41 701 508 467 Exports - 7 693 917 881

15 Investment Opportunities - Agriculture LocationNkurenkuru, 140km west of Rundu, Kavango Region. +-1km from the River. SizeTotal 1,800ha – of which 1,250ha is planned for irrigation Ownership Type Commercial Large-Scale Irrigation Project WaterWater permit issued by MAWF for extraction from Kavango River CropsMaize, wheat, sunflower, beans, paprika, etc. Project OwnerSihete Enterprises Pty LTD Land Ownership 20 year Commercial Leasehold, Renewable. StatusBusiness Plan Developed in 2007 not implemented due to lack of funding.

16 Investment Opportunities - Tourism Eco Tourism Lodge on Orange River bank - Sendelingsdrift Border Post in the /Ai-/Ais - Richtersveld Transfronteer Park Required: JV Partnership with land owners Convention Centre - Insufficient conferencing facilities to host major international events. Lodge Position Road to Aussenkehr, /Ai-/Ais and Fish River

17 Incentives – Manufacturers & Exporters Corporate Tax: 18% for 10 years Value Added Tax (VAT): Claims on all inputs paid on acquisition and manufacturing equipment imported Establishment Tax Package: Negotiate rates and terms by special tax packages Special Building Allowance: Factory buildings written off at 10% in 1 st year and balance at 8% for 10 yrs Transportation Allowance: Road or rail allowance of 25% deduction from total cost

18 Incentives – Manufacturers & Exporters Export Promotion Allowance: Additional deductions from taxable income 25% Cash Grants: 50% of direct cost of approved export promotion activities Exporters of Manufactured Goods: 80% allowance on taxable income derived from the export of Manufactured goods (excluding meat and fish) produced in Namibia or not.

19 Starting a Business in Namibia Contact Registrar of Companies – MTI Company Name Reservation ( Turn around time - 14 days) Company Registration ( Turn around time - 14 days) After successful registration of company, submit Temporary Residence Permit (TRP) application to the Namibia Investment Centre (NIC) NIC present application to ISB (Home Affairs) for approval Factors considered by ISB –investment capital, employment, skills transfer, downstream effect, overall significance to Namibian economy Approval of application not automatic No fee required upon submission, N$ 500 payable if approved Minimum investment capital – US$ 100 000

20 Commercial Office Support Trade and investment enquiries Trade and investment enquiries Investment and trade promotion Investment and trade promotion Facilitation of investment missions to Namibia Facilitation of investment missions to Namibia Facilitation of business missions from Namibia to South Africa Facilitation of business missions from Namibia to South Africa Participation in trade fairs in South Africa Participation in trade fairs in South Africa Guidance on starting a business in Namibia Guidance on starting a business in Namibia

21 Where the Namib Desert and the Atlantic Ocean congregates into a natural wonder, we strive to conduct business with peace of mind …… NAMIBIA Thank You


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