Margareth Gustavo on Positioning Namibia as a Preferred Destination for Foreign Direct Investment скачать в хорошем качестве

Margareth Gustavo on Positioning Namibia as a Preferred Destination for Foreign Direct Investment

During the Data Protection Bill Stakeholders' Validation Workshop in August 2023, Margareth Gustavo, then Executive Director of Strategy and Branding at the Namibia Investment Promotion and Development Board (NIPDB), emphasised that enacting the Data Protection Bill is critical for Namibia's competitiveness and its status as a preferred destination for Foreign Direct Investment (FDI). Key Points from Her Presentation: • Investor Prerequisite: Gustavo revealed that international investors, particularly those looking to establish call centers and service-providing operations, frequently ask whether Namibia has a Data Protection Act before committing capital. • Competitive Advantage: She noted that Africa currently has the fewest data protection acts of any continent. Early enactment would give Namibia a "great competitive advantage" by providing the legal certainty and credibility international markets demand. • Risk of Delay: Gustavo warned that many potential investments are currently "parked" or waiting. She stressed that further delays in legislation run the risk of these investors pulling out of the country entirely. • Trust and Credibility: The legislation is framed not just as a regulatory requirement but as a branding tool that builds national credibility by ensuring personal data is lawfully collected, stored, and processed according to world-class standards. • Collaborative Effort: To address these investor concerns, the NIPDB partnered with the Ministry of Information and Communication Technology (MICT) to expedite the bill's development, viewing it as a vital pillar for industrialisation and economic growth.