Month: March 2023

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Henley & Partners: Invest in Namibian Real Estate and Secure Residence Rights

LONDON, March 01, 2023 (GLOBE NEWSWIRE) — The world’s latest investment migration option — and Africa’s second — the Namibia Residence by Investment Program has been launched by Henley & Partners, the global leaders in residence and citizenship planning.

The Namibian government is actively seeking foreign investment to boost the country’s economic growth and diversify the economy. The program provides numerous opportunities for international investors seeking a foothold and growth on the African continent, including tax incentives, financing, and a one-stop bureau service for international companies. For a minimum real estate investment of USD 316,000 in the new luxury golf and eco-friendly President’s Links Estate in Walvis Bay, successful investors will receive a five-year, renewable work permit which gives them the right to live, do business, and study in Namibia.

Group Head of Private Clients at Henley & Partners, Dominic Volek, says, “We are delighted to announce this innovative new residence by investment offering in Africa. Namibia’s stunning landscape, attractive tax system, and business-friendly environment make it an ideal option for international entrepreneurs, high-net-worth individuals, or retirees. There are fewer than 600 real estate units available in this exclusive coastal estate that qualifies for residence, so investors need to move quickly if they want to take advantage of this limited opportunity to secure residence rights in one of the most nature- and wildlife rich countries in the world.”

One of Africa’s fastest growing private wealth markets

The total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years, according to the Africa Wealth Report, published by Henley & Partners in partnership with New World Wealth. Namibia is expected to be one of Africa’s fastest growing markets going forward, with high-net-worth individual (those with wealth of USD 1 million or more) growth of over 60% forecast for the next decade (until 2032). According to New World Wealth’s December 2022 statistics, Namibia holds USD 26 billion in total investable wealth. The average wealth of a resident of Namibia (wealth per capita) is USD 10,050, ranking as the third highest in Africa after Mauritius and South Africa. The nation is home to around 2,100 high-net-worth individuals and three centi-millionaires (with wealth of USD 100 million or more).

To attract inward investment, the government has made major improvements to its tax system in recent years. Namibia operates a source-based tax system, which means that foreign residents are generally only taxed on the income they generate in the country. What is more, tax rates are relatively competitive compared with many other emerging markets and particularly with neighboring countries such as South Africa. The top rate of income tax in Namibia is a modest 37%, but perhaps most notably there are no capital gains, estate, gift, inheritance, or net wealth/worth taxes.

Unprecedented interest in domicile diversification

Currently, the President’s Links Estate is the only investment route for the Namibia Residence by Investment Program. Group Head of Real Estate at Henley & Partners, Thomas Scott, says international real estate has always been a reliable asset class for global investors due to its long-term staying power. “Real estate–linked investment migration programs such as the offering in Namibia have the additional advantages of enhancing your global mobility and expanding your personal access rights as a resident or citizen of additional jurisdictions, creating optionality in terms of where you and your family can live, work, study, retire, and invest. The potential gains over the lifetime of this investment include the core value of the asset, rental yields, and global access as an ultimate hedge against both regional and global volatility.”

Volek points out that there has been significant and ongoing growth in the demand for residence and citizenship by investment options over the past few years. “The appeal of investment migration for affluent families is truly universal due to its many benefits, ranging from domicile diversification to global mobility enhancement, to accessing world-class education and healthcare, to having a plan B in times of turmoil. No matter where you were born, or where you currently reside, wealthy investors can futureproof themselves and their families for whatever might lie ahead through investment migration options such as the new Namibia Residence by Investment Program.”

Media Contact

Sarah Nicklin
Group Head of PR
sarah.nicklin@henleyglobal.com
Mobile: +27 72 464 8965

GlobeNewswire Distribution ID 1000795319

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Vietnam to remain important link in global supply chains: economist

Vietnam will remain an important link in global supply chains and a destination favoured by many businesses, said Tim Leelahaphan, Standard Chartered’s economist for Thailand and Vietnam, on Feb 28.

Speaking at the seminar titled “Global Economic and Financial Outlook Update: Implications for Vietnam” held by the Ministry of Foreign Affairs and the British bank, he said that Vietnam’s GDP growth rate may hit 7.2% this year and 6.7% in 2024.

The country’s economy still faces some macro risks such as inflation, public debt, and confidence recovery in the first half of 2023, but the recovery outlook is positive in the second half, he predicted.

Michele Wee, Chief Executive Officer at Standard Chartered Bank Vietnam Ltd., said that Vietnam has medium- and long-term development outlooks, which helps increase growth potential and attract investment.

Vietnam is playing an increasingly important role in international trade activities and global supply chains, she affirmed, adding that Standard Chartered always strives to support Vietnam’s recovery and sustainable growth in 2023 and the coming years.

Ambassador Giorgio Aliberti, Head of the European Union Delegation to Vietnam, and many economists attending the seminar agreed that Vietnam should promote green trade and provide comprehensive support for sustainability goals in the context that accelerating the implementation of commitments to digital transformation and green transformation associated with environmental criteria is a mandatory trend for almost all countries.

They proposed Vietnamese enterprises take appropriate preparations to catch up with this inevitable trend by innovating the way of thinking, changing governance methods, and building a green export strategy.

Speaking at the event, Assistant to Vietnamese Foreign Minister Nguyen Minh Hang stressed that the promotion of international cooperation to take advantage of the collaboration and support of international partners for socio-economic recovery measures, and for boosting new growth drivers such as green growth and digital transformation is very important to Vietnam.

Source: Lao News Agency

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21 Lao youth depart for Japan to deepen understanding of Cutting-edge Technology

Twenty-one young people on Feb 28 departed from the Lao PDR for Japan to participate in the “Manufacturing and Science Technologies Exchange” conducted under the framework of JENESYS 2022 supported by the Government of Japan.

This programme focuses on the cutting-edge technology in Japan. The 21 youth have been selected in cooperation with the Ministry of Education and Sports as participants for JENESYS 2019 programme. After three years postponement due to the COVID-19 pandemic, they have finally set off.

The participants for this programme will visit Tokyo and Hokkaido prefecture. In addition to attending lectures, visiting facilities and key industries related to emerging Japanese technology and innovation, they will experience cross-cultural events, workshops and discussions with local people in Japan.

Participants are expected to share and promote mutual understanding from their experiences, learnings and insights with wider audiences utilizing social networking services (SNS) during their 7-day stay in Japan and also after returning home.

JENESYS or Japan-East Asia Network of Exchange for Students and Youths, is a youth-focused people-to-people exchange programme between Japan and the Asia-Pacific region. More than 2,200 Lao young people have been to Japan for such exchanges since JENESYS’ establishment in 2007. It is expected that these exchanges will continue to promote mutual trust and understanding among the participating nations’ younger generations to build strong foundations for the long-term friendship and cooperation between Japan and the Lao PDR.

Source: Lao News Agency

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DPRK launches the construction of new street in Sopho area

In the sacred course of the Workers’ Party of Korea which is translating into thrilling reality the grand plan and determination for prosperity and development of the DPRK and the wellbeing of its people, a new street will be built in the Sopho area of Pyongyang, the capital city, as a symbol of the development and future of socialism.

The construction of a new street in the capital city, set forth by the historic Sixth Plenary Meeting of the Eighth Central Committee of the WPK as a major construction task for this significant year and entrusted to the youth, is a gigantic creation campaign to be carried out by the steadfast will of the WPK to provide the people with a highly-civilized and happy life as early as possible at the extraordinary construction speed of racing against time and accelerate the ongoing grand revolutionary advance with the fighting mettle and advance spirit of the fine, reliable and passionate youth.

The great Party Central Committee entrusted the Socialist Patriotic Youth League and the Paektusan Hero Youth Shock Brigade with the important revolutionary task to make our young people, who have always served as a powerful driving force of the state development in the historic course of the Korean revolution pioneered in Mt Paektu, reliably carry forward the proud tradition of loyalty and patriotism in the ongoing general advance. Such great trust is giving further momentum to enthusiasm for the revolution and patriotic zeal of millions of young people across the country.

A ground-breaking ceremony for the construction of a new street in the Sopho area of Pyongyang City took place last Saturday.

The venue of the ceremony, which will mark another brilliant chapter in the history of the Juche-oriented youth movement, was brimming with the revolutionary enthusiasm of young builders determined to create new legendary tales about the heroic youth as standard-bearers in building socialist civilization at the worthwhile theater for translating into a proud reality the long-cherished desire of the Party Central Committee.

Kim Jong Un, general secretary of the Workers’ Party of Korea and president of the State Affairs of the Democratic People’s Republic of Korea, attended the ceremony.

When he appeared at the venue of the ceremony together with his beloved daughter, all the participants broke into cheers of “Hurrah!”, looking up to the great father who put forward the young people as the vanguard and shock brigade in the struggle for socialist construction and as the promising, young main forces taking the lead in ushering in a new era of the country’s prosperity and has shown all kinds of love and affection for them, while making a new history of attaching importance to the youth on this land.

Expressing his pleasure over the declaration of significant ground-breaking for another modern street in the presence of young volunteers, which will be recorded as a proud page in the history of the Korean youth movement adorned with bravery and feats, he highly appreciated once again the immortal feats of the Paektusan Hero Youth Shock Brigade performed in building a monumental edifice of youth for the motherland.

He said that the Paektusan hero youth spirit prevailing all campaign theaters in the country comes to be the symbol of indomitable character and fighting spirit of our socialist young vanguard and an integral part of the irresistible might of Juche Korea courageously braving hardships, and clarified our Party’s determination to provide a new and big stage for young people to show once again their patriotic enthusiasm in the course of overall development of socialist construction by further elevating this great spirit.

Expressing belief that the glorious Socialist Patriotic Youth League and Paektusan Hero Youth Shock Brigade would successfully build a new street in the capital city by living up to the call of the times and expectation of the people through their heroic struggle, he ardently appealed to wage a brave struggle for the high honor of the Korean youth and the eternal prosperity of our socialist state and for the sake of the capital city of Pyongyang.

Source: Lao News Agency

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Laos-China railway’s Vientiane station

Prime Minister Sonexay Siphandone, accompanied by ministers visited the Vientiane Station of the Laos-China Railway in Xaythany district, Vientiane to inspect its preparations for welcoming Chinese visitors who will travel to Laos with the Laos-China train.

He was welcomed by Vice Mayor of Vientiane Phoukhong Bannavong, Chinese Ambassador to Laos Jiang Zaidong and relevant officials.

He was briefed by senior officials of the station on the operation of the railway as well as its efforts to meet public demand.

The Prime Minister urged concern parties to find solutions to outstanding issues according to established rules and regulations in order to ensure the smooth welcome of Chinese tourists.

Source: Lao News Agency