Namibia Investment Promotion Act (2016).

This Namibia Investment Promotion Act determines the rules aimed to provide for the promotion of sustainable economic development and growth through the mobilization and attraction of foreign and domestic investment to enhance economic development, reduce unemployment, accelerate growth and diversify the economy; to provide for reservation of certain economic sectors (also natural resources) and business activities to certain categories of investors (including concessions); to provide for dispute resolution mechanisms involving investment; and to provide for incidental matters. The text is divided into seven main thematic parts, as follows: Part I. Introductory provisions; Part II. Administration of act; Part III. Investors, economic sectors and business activities; Part IV. Change of ownership and control of investments; Part V. Rights and obligations for investors; Part VI. Dispute settlement; Part VII. General provisions. Section 11 sets rules regarding the approval of proposed change of ownership and control of investment. Section 21 sets terms regarding the expropriation of land. Section 33 sets penalties for offences.