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NamBizOne portal set to ease FDI transactions

NamBizOne portal set to ease FDI transactions

The Ministry of Industrialisation, Trade and SME Development (MITSMED) launched this week a single window portal as part of a series of steps to reform the ease of doing business with a pro active client service for local and international investors.

Kim Leng Tan from Singapore Cooperation Enterprise (SCE) demonstrated the completion of the first phase of the NamBizPortal. “From experience Namibia has fast tracked this process by reducing the number of days to register a business which other countries such as Uganda doing the same over a period of 10 years whereas here it was done in two years,” he said.

The second phase of the strategic reform is expected by 2018 with an Integrated e-Services Platform, and the third phase is set for 2019 with an Expansion on Licenses and Permits.

The vision of the Integrated Client Service Facility (ICSF) project is a commitment to improve the ease of doing business according to Tan. This is likely to reduce the full steps of registering a business to 5 working days or less from 66 working days, he added.

The Africa Competitiveness Report 2017 ranks Namibia in the top ten most competitive economy at sixth place.

The NamBizOne online business registration and compliance website, is part of the ICSF Project, meant for key stakeholder organisations to migrate to a digital service and apply the consultants knowledge in transferring proven methods and standards to establish a robust online one stop shop for investors.

According to the ministry’s Permanent Secretary, Gabriel Sinimbo all the necessary details, from submitting an investment proposal, to incorporating your business registering for tax and social security and applying for relevant licenses, all the necessary details are available on the portal.

Sinimbo said that with the assistance of SCE the economy will benefit from automation as an integrated 24/7 online registration e-service portal to allow for efficient integration with Inland Revenue and Social Security Commission, and fast tracking of permit processing for high-value investors.

In addition to the information available directly on the portal, NamBizOne also offer advisory services, while several government organisations are working with the Trade ministry to integrate their services so as to provide benefits of a seamless and more responsive customer service.

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