Namibia's EPZ regime effectively got off the ground in 1996, after the enactment of the EPZ Act (Act 9 of 1995). Today it has attracted significant local and international interest. In Namibia, more especially in Walvis Bay, investors call the programme - "Extra Potential Zone".
Namibia offers the only true tax haven on the African continent. Namibia's EPZ incentives are wide-range, indefinite and have created an accommodating and profitable environment for manufacturers and exporters.
Since the inception of the Walvis Bay EPZ Management Company in 1996, the idea of expanding the industrial base of Walvis Bay has rapidly gained momentum and the zone is growing fast into one of the world’s newest EPZ success stories. The achievements of the WBEPZMC in institutional and image building and the implementation of goals have marked an era for global trade. The WBEPZMC’s key purpose is to market Walvis Bay as the safe destination for Foreign Direct Investment (FDI) as a means of fast- tracking the industrialisation programme of the Namibian government.
Entrepreneurs from around the world have applied for participation in the regime. Today, some 20 companies, from Africa, Asia, Europe and North America are fully operational and making use of the EPZ incentives in Namibia which provides them with a better competitive advantage, compared to other countries.
With growing international interest (more especially after the US Congress passed the African Growth and Opportunities Bill (AGOA)) suggests that the Namibia EPZ regime should see full bloom over the next few years. The established companies in the Walvis Bay EPZ are involved in the manufacturing of plastic pallets and products, automotive parts for VW and Audi vehicles, clothing, fishing related accessories and diamond cutting and polishing.
Being favourably located close to the Port, there is a quick access to the quays where bulk cargo and containers are handled. Walvis Bay’s strategic location reduces trans-shipment time, making it the cost effective choice. Surrounded by a unique and fascinating environment of ethereal dunes of the oldest desert in the world, the Namib Desert, the EPZ regime in Walvis Bay is a window to world trade and investment.
The Walvis Bay EPZ provides a politically stable, virtually crime-free environment, reliable work-force and lower production costs. Its incentives are of unlimited duration and apply equally to Namibian and foreign firms. The most attractive and lucractive aspect of the EPZ is the tax-free and low overhead incentives it provides to investors. Furthermore, companies are allowed to repatriate their capital and profits, while enjoying freedom from exchange controls and the holding of foreign currency accounts at local banks. The labour force is young, reliable, trainable and in abundance. Walvis Bay has banking and insurance facilities to cater for the needs of international investors.
With EPZ status, an investor enjoys the following advantages:
Government Gazette No. 1298 below contains the regulations under the Customs & Excise Act, 1964 relating to Export Processing Zones.Download pdf Document: Regulations under the Custom & Excise Act, 1964 - Export Processing Zones (Document size: 3MB)
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