WINDHOEK, Aug. 19– Namibia will introduce a new employment permit for qualifying foreign investors and businesspeople from Sept. 1 as part of efforts to streamline investment procedures and attract more foreign direct investment.
The Employment Permit to Conduct Business will be valid for up to five years, compared with the current two-year validity period for employment permits, Minister of Home Affairs, Immigration, Safety and Security Lucia Iipumbu said in a statement Tuesday.
The new permit will also authorize qualifying investors to work in the businesses covered by the permit, she said. According to Iipumbu, applications will be submitted through the Namibia Investment Promotion and Development Board, which will conduct an economic evaluation and impact assessment of proposed investments before referring the applications to immigration authorities.
Iipumbu said the reform is aimed at reducing administrative barriers and supporting investment, economic growth, industrialization and job creation. The fee for the new permit will be 2,600 Namibian dollars (about 160 U.S. dollars) per year. (Namibia Daily News / Xinhua)
