Brief Overview of the Walvis Bay EPZ
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.
With EPZ status, an investor enjoys the following advantages:
- Preferential market access to the EU, USA and other markets due to Namibia's signatory to the Lome Convention and GSP
- Access to the COMESA market of more than 300 million people
- Access to non-SACU SADC member countries (Angola, DRC, Zambia, Tanzania, Mauritius, Zimbabwe, Botswana and Mozambique)