President Mokgweetsi Masisi recently announced that a new Botswana Economic Development Board (BEDB) will be formed to expeditiously address bottlenecks and delays which investors encounter in Botswana.

Addressing members of HATAB recently, Masisi explained that international investors in the tourism sector will also be covered by the BEDB.

The BEDB will be headed by the president himself. ‘’To promote investment, a Board called Botswana Economic Development Board, to be led by myself, is being set up to deal expeditiously with any regulatory bottlenecks and delays which investors, including those in the tourism sector, encounter from time to time. ‘’

The President further reiterated that the Board will also be charged with attracting investment into Botswana, as well as support efforts to make our investment climate second to none. The proposed Botswana Economic Development Board, whose work will be informed, among others, by that which Botswana Investment and Trade Centre (BITC) is facing problems in executing, will also communicate and promote Botswana’s key strengths in the business institutional support, legal and financial eco-system that should enable prospective investors to harness the country’s comparative advantages for global trade.

Masisi added that other typical matters that the Board will address include delays in licensing, permits, Environmental Impact Assessment (EIA) approvals and lease concessions to improve security of tenure. All this will be done within the context of promoting Botswana as a destination which offers a world class climate for doing business, including tourism. We, therefore, envisage that the Board will work closely with businesses and regulators to explore opportunities to boost 9 our business environment and support favorable commercial conditions.

Masisi told the gathering that tourism has become an important engine of growth for many economies across the world. ‘’We, in Botswana, have carved our niche in wildlife-based tourism in the northern part of the country. He explained that the rest of the country must also be positioned to tap into the growing market by diversifying its tourism product line and pursuing tourism activities which offer it a comparative advantage.