Having graduated from one of the poorest countries in the world to an upper-middle-income country in three decades, Botswana is an open economy with continuous economic development. This is thanks to Botswana’s macroeconomic policy frameworks which are underpinned by prudent management of resources and good governance, as explained by Ambassador Outlule.
“As a country highly credited for its careful management of mineral resources, as well as the maintenance of a transparent, competitive, and open economy leading to rapid economic development, Botswana envisions to graduate to a high-income economy by 2036,” stated the Ambassador.
One key element of achieving this goal is the diversification of the Botswana economy by moving from the over-reliance on minerals to focusing on other lucrative sectors. “With the private sector in the driver’s seat, the sectors prioritised for economic diversification include tourism, manufacturing, agriculture, financial services, and logistics.”
As seen in the ‘Botswana is full of Investment Opportunities’ article in the 2022 edition of the NABC magazine, these aforementioned areas hold a lot of business opportunities and investment incentives for Dutch and European companies with an interest and stake in Botswana.
In addition to the liberal tax regime and the investment incentives, Ambassador Outlule added that Botswana’s investment environment has no restrictions on business ownership or foreign exchange controls. There is also remittance and full repatriation of profits and dividends, including a 100% duty rebate on importation of machinery and raw materials.