News: Botswana pitches for Indian investment

(BL 09/12/2006) New Delhi - Botswana is keen to attract Indian investment in minerals, especially diamonds, copper and coal beneficiation. To facilitate this, it opened its High Commission in India in April and plans to set up an office of the Botswana Export Development and Investment Authority in New Delhi soon, said the Botswana President, Mr Festus Mogae.

While speaking at a meeting organised jointly by CII, FICCI and Assocham on Friday, he said, "We are willing to negotiate a free trade agreement between India and the South African Customs Union (SACU) to overcome the protective tariffs that exist within SACU."

Double-taxation treaty

Botswana and India, he said, have agreed on a double-taxation avoidance treaty and are negotiating an investment protection agreement. "We want to attract Indian investment in technology as well as its business acumen, especially in the small and medium enterprises sector," he added.

Attractive climate

The President said his country offered an attractive investment climate. The corporate tax rates are low, at 15 per cent for manufacturing and 25 per cent for non-manufacturing industries. There is a negotiable tax holiday of up to 10 years. Botswana has a high credit rating, a transparent governance process, continuity of policy, rule of law and respects the sanctity of contracts.