27 Nov 2016

Global expo is a major trade and investment platform offering exciting opportunities to do business in one of Africa’s most stable and fastest growing economies.

Assistant Minister of Investment, Trade and Industry Mr Biggie Butale said this when officially opening the 11^th edition of the premier business to business multi-sectorial expo, investment and trade conference, Global Expo.

Mr Butale said as a market led economy, ‘Botswana‘s objective is to provide a conducive investment climate which will nurture economic growth through maintenance of a stable macro –economic environment coupled with requisite institutional support.’

He said the Botswana Investment Trade Centre (BITC) intends to use the expo to assist foreign exhibitors and potential investors in exploring business opportunities across the economic spectrum of Botswana.

“According to predictions by economists, after two years of coming out of recession in 2015, the world economy became volatile again and forecasts show that there will be another decline this year, however the good news is that Botswana’s economy is expected to rebound with projected GDP growth rates of 3.5 per cent and 4.1per cent in 2017 and 2017,” he said.

The assistant minister said the rebound would mainly be driven by an expected improvement in the mining sector as the demand from developed economies stabilises.

Furthermore, he noted government has embarked on an ambitious initiative to improve the business environment through the Doing Business Reforms Roadmap and Implementation plan aimed at reducing the cost, time and simplifying processes of doing business in Botswana.

“This initiative looks at improving a number of areas that an entrepreneur goes through in setting up and operating business, such as registration, acquiring construction permit, paying taxes and cross border trade to mention but a few,” he said.

Mr Butale reminded the audience that Botswana offers an attractive investment package in terms of tax holidays, low corporate tax, free repatriation of profits and market access.

For his part, Bank of Botswana governor, Mr Moses Pelaelo said renewed preparedness, structural reforms and appropriate execution with respect to policy frameworks, effectiveness of institutions and administrative approaches were required in order to fight the current challenging situation of doing business in Botswana.

This year‘s Global Expo Botswana was held under the theme, “Unlocking opportunities for economic growth.” ENDS