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PLANS TO RESCUE STALLED MULTI-MILLION PROJECTS

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MBABANE – Multi-million Emalangeni projects that had to be frozen due to COVID-19 can still see the light of the day.


Government assembled a multi-sector and multi-stakeholder team whose main task will be to provide support to government’s endeavor to supercharge economic activity in an attempt to reverse the contraction as well as avoid a recession post-COVID-19.  Those with stalled projects that are above E10 million have been called forward.


Projects


“I am well aware that some of you have in your drawers some good projects which, for one reason or the other, you decided to put away. It is time for these projects to come out and a government-appointed team is ready to listen to you and then act as necessary,” reads a statement from Business Eswatini CEO Nathi Dlamini.


Each project must be above E10 million in terms of initial investment outlay. It should spell out the employment prospects, and the general return to the economy. It should further detail funding source, as appropriate (optional) and further state what could prevent the project from seeing the light of day. For instance, government regulation, skills availability and so on.


Urgency


“We need these projects to be submitted as a matter of urgency because we are working against time here. This coming Friday, June 5, 2020, is the deadline but for exceptional cases, this can be negotiated.
“Business Eswatini is of the view that government means business this time round and they seem sincere. If only for this reason alone, let us partner with them on this endeavor,” said Dlamini.


Dlamini applauded government for taking this initiative at this time.
“It is increasingly becoming evident that the economy is being pummeled from all angles right now, in large part due to the varying degrees of lockdowns across the region. All of this is taking its toll on commerce and on local business, in particular. If nothing gives soon, it’s not unreasonable to think that some companies will, sadly, not rise up again when the ‘trumpet sounds’.


“Unfortunately, this is the reality we have before us but one which we must accept if we are to change the trajectory of our lot. And indeed we must, because the prospect of doing nothing is too disastrous to contemplate. It is in that spirit, therefore, that we are calling for commercially viable projects from yourselves which can be implemented in the next eight to 18 months,” he said.


The projects should factor the following:   
l     Each project must be above E10 million in terms of initial investment outlay.
l     It should spell out the employment prospects, and the general return to the economy.
l     Detail funding source, as appropriate (optional).
l     Should state what could prevent the project from seeing the light of day, e.g., government regulation, skills availability, etc.

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