{"id":6347,"date":"2021-11-29T12:56:00","date_gmt":"2021-11-29T12:56:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty"},"modified":"2021-11-29T14:06:21","modified_gmt":"2021-11-29T14:06:21","slug":"current-investment-legislation-amplified-investor-uncertainty","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty","title":{"rendered":"Current investment legislation amplified investor uncertainty"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Namibia. <\/strong><\/span>Minister of industrialisation and trade Lucia Iipumbu said there is a critical need to ensure Namibia embraces and adopts its revamped and revived investment legislation due to several pressing reasons that are causing uncertainty among investors. She made this call last week while tabling the Namibia Investment Promotion and Facilitation Act (NIPA) in the National Assembly for ratification.<\/p>\n<p>The principal purpose of the Act is to enable a conducive environment to attract, retain and facilitate both sustainable domestic and foreign investment in the country. Iipumbu said the Act does not only cover and define its objectives and the minister\u2019s powers, but also the duties and functions of key institutional mandates within the NIPA framework.<\/p>\n<p>According to the trade minister, there is a need to embrace a modern and clear legal framework that accommodates newer economy dictates and developments. This is to ensure that the country leverages on dimensions that emanate from the fourth Industrial Revolution (4IR), the economic nationalism agenda, the digital economy imperatives, a smarter approach towards economic incentives, regional and continental free trade areas, as well as fostering regional and bilateral value chains through new generation Special Economic Zones (SEZ).<\/p>\n<p>\u201cThere was and still is a need to ensure that Namibia is not duly left with a policy gap when it comes to the investment environment. Current investment legislation has led to increasing investor uncertainty, a situation that Namibia can ill-afford any further,\u201d she warned.<\/p>\n<p>Iipumbu added: \u201cThe investor uncertainty is felt in the very low investments the country secured over the last three years. Although global investment levels have also experienced a downturn and were exacerbated further by Covid-19, Namibia is one of the economies that has been severely affected with investor uncertainty\u201d.<\/p>\n<p>The current legislation is outdated in that it does not foster domestic investment nor does it embrace newer dictates such as innovation and sustainable investment.<\/p>\n<p>\u201cThe old legislation, therefore, will not support any viable initiatives that foster the adoption of 4IR-driven investments nor will it adequately enhance new policy developments around SEZ, which aims to ensure that Namibia can attract investments for trading in through the ACFTA and the rest of the world,\u201d the minister explained.<\/p>\n<p>Iipumbu cautioned that the absence of the investment policy regime is enabling an impaired environment in Namibia, making it difficult to leverage on newer investment strategies pertaining to renewable energies, resuscitating a post-Covid-19 economy within an updated investment legislative and policy framework, and comprehensively protecting local enterprises. The absent investment policy regime, therefore, does not auger well for the country.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/namibia\">Namibia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Namibia. Minister of industrialisation and trade Lucia Iipumbu said there is a critical need to ensure Namibia embraces and adopts its revamped and revived investment legislation due to several pressing reasons that are causing uncertainty among investors. She made this call last week while tabling the Namibia Investment Promotion and Facilitation Act (NIPA) [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":6346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,2961,2962,233],"class_list":["post-6347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-investor-uncertainty","tag-legislation","tag-namibia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Current investment legislation amplified investor uncertainty - Namibia<\/title>\n<meta name=\"description\" content=\"Minister of industrialisation and trade Lucia Iipumbu said there is a critical need to ensure Namibia embraces and adopt ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Current investment legislation amplified investor uncertainty\" \/>\n<meta property=\"og:description\" content=\"Minister of industrialisation and trade Lucia Iipumbu said there is a critical need to ensure Namibia embraces and adopt ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-29T12:56:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-29T14:06:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/11\/img-61a4de4566e04.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"472\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Current investment legislation amplified investor uncertainty\",\"datePublished\":\"2021-11-29T12:56:00+00:00\",\"dateModified\":\"2021-11-29T14:06:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty\"},\"wordCount\":441,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/11\/img-61a4de4566e04.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"investor uncertainty\",\"legislation\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/current-investment-legislation-amplified-investor-uncertainty\",\"name\":\"Current investment legislation amplified investor uncertainty - 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