The government of Botswana founded the Botswana Investment and Trade Centre (BITC) to encourage both local and foreign investment and to ease international commerce. In 1998, the organization was formed by the merger of the Botswana Export Development and Investment Authority (BEDIA) and the Botswana Development Corporation (BDC). BITC is managed by the Ministry of Investment, Commerce, and Industry. Its principal purpose is to promote the export of Botswana-made products and services, as well as to attract and facilitate investment in the country.
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Purpose
The mission of the Botswana Investment and Trade Centre (BITC) is to develop trade and investment in the country. The organization’s major objectives are to encourage the export of products and services made in the nation both domestically and abroad. By fostering an environment that is favorable to trade and investment, BITC seeks to assist the expansion and diversification of Botswana’s economy. Through fostering innovation, supporting research and development, and advancing the abilities and knowledge of the local workforce, BITC seeks to increase the competitiveness of Botswana’s economy. To accomplish its goals and contribute to Botswana’s sustainable development, the organization works in partnership with other governmental bodies, businesses, and foreign partners.
Organization’s operations
The organization’s primary duties are:
Financial promotion
Attracting local and international investment into Botswana is one of the BITC’s key responsibilities. Potential investors may take use of a variety of services offered by the organization. This includes information on business prospects in the nation, assistance with site inspections, supply of incentives, and aftercare services. To simplify the investment process and eliminate any barriers, BITC also collaborates with other governmental organizations. BITC has built a one-stop-shop business center that provides a variety of services to prospective investors to draw in investors. The center aids with the registration of businesses, the purchase of work permits, and the facilitation of access to business incentives. After investors have established their companies in Botswana, the center also offers aftercare services.
Export marketing
The BITC is also in charge of encouraging the export of products and services made in the area. The organization provides support to local exporters by facilitating access to international markets, promoting Botswana as a reliable supplier of goods and services, and providing information on trade regulations. The Botswana Export Development Program (BEDP), which is run by BITC, aims to aid Botswana’s burgeoning exporters. The program helps with market research, gives access to trade events and exhibits, and trains and supports aspiring exporters.
Financial incentives
To attract investment into Botswana, BITC provides a variety of business incentives to prospective investors. These advantages include tax breaks, lower customs taxes for imported capital goods, and more affordable land access. The company further offers training, technical support, and financial access to investors. To entice investment into certain economic sectors, BITC has developed a variety of special economic zones (SEZs). Investors may take advantage of a variety of benefits provided by the SEZs, including tax exemptions, lower customs taxes, and access to facilities and services.
Companies collaborating with BITC
Botswana Investment and Trade Centre work closely with the Ministry of Investment, Commerce, and Industry. To fulfill its mission of encouraging trade and investment in Botswana, BITC collaborates with a variety of other companies and organizations. Key parties with which BITC works together include:
- Domestic and foreign investors
- Native exporters
- Government organizations such as Botswana Investment Authority and Botswana Unified Revenue Service.
- Organizations in the private sector, such as business groups and chambers of commerce
- International partners such as multilateral organizations, foreign embassies, and development organizations.
Overall, BITC collaborates with a wide variety of companies and organizations to promote trade and investment in Botswana and contribute to the nation’s sustainable development.
