Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
The Namibian Investment Center (NIC) housed under the Ministry of Industrialization and Trade (MIT) serves as the first port of call for potential investors in Namibia and offers investor services required for establishing a business in Namibia. In 2020, Namibia announced the creation of the Namibian Investment Promotion and Development Board (NIPDB) to raise the profile on foreign investment promotion, but the NIPDB has not yet commenced operations.
In order to do business in Namibia, it is helpful (though not required) to have a local presence or a local partner. It may be worthwhile to establish business relationships before tender opportunities are announced. U.S. firms should seek local partners with a good reputation in their line of business or a complementary business. The World Bank’s Doing Business 2019 report notes that it takes ten procedures and an average of 66 days to start a business. Some accounting and law firms provide business registration services.
In 2014, the Namibian government created the Business and Intellectual Property Authority (BIPA) – a one-stop-center for all business and IPR registrations and related matters. In 2017, the Ministry of Industrialization and Trade (MIT) launched NamBizOne, a single-window information portal to guide domestic and foreign investors on the administrative and legal requirements to invest, start, and run a business in Namibia.