5 FDIS FACILITATED, INVEST E600M

MBABANE – During the third quarter of the 2023/24 financial year, the Ministry of Commerce, Industry and Trade hosted 16 inward investment attraction missions from countries such as India, United Arab Emirates, South Africa, Bangladesh, Togo and USA.

According to the ministry’s annual report, to aggressively promote the country to investors, the ministry, through the Industry Department, further undertook five outward missions to Russia, the United Arab Emirates and Botswana. “As a result, five FDIs were facilitated in mining, energy, property and manufacturing. These companies invested a total of E600 million and created 2008 jobs,” read the report. Furthermore, 21 FDI projects were added to the investment pipeline in the reporting period.

Strategic

These are in manufacturing, Agriculture, energy, food processing tourism and pharmaceuticals. In line with its strategic objective to promote and facilitate new domestic investments (DDI) in the country, the authority co-ordinated investment by one DDI company in Roto Manufacturing, which invested about E10 million and created 20 employment opportunities.
Four DDI projects were added to the pipeline in the energy, property and food processing sectors. It was further reported that the industry department has successfully completed the review of the country’s National Industrial Development Policy (2015-2022), and has launched the Industrial Policy (2023-2033). The Industrial Policy (2023-2033) will guide the review of Eswatini’s Investment Policy. The department working with the Eswatini Investment Promotion Authority (EIPA) is engaged in a process to review the National Investment Policy (2009).

Policy

The reviewed policy is expected to facilitate the creation of an automatic, transparent and predictable investment regime by way of harmonising and aligning with other policies, and laws, including Eswatini’s commitments at continental, regional and international levels. Furthermore, efforts to strengthen national value chains continue, in particular strengthening the meat and meat products value chain. It was highlighted that the National Agro-Value Chain Development Strategy for Fruits and Vegetables, Meat and Meat Products was adopted in 2019, and Eswatini was leading this value chain under the South African Customs Union (SACU). The department in collaboration with the Ministry of Agriculture is currently involved in facilitating the implementation of the National Agro-Value Chain Development Strategy for Meat and Meat Products Value Chain through the assistance of the International Trade Centre (ITC), the project is currently at the initiation stage.

Meanwhile, the International Trade Department has continued to expand and safeguard market access opportunities for the country’s export products. The department has participated in a number of bilateral, regional, continental and multilateral trade forums including negotiation meetings, training workshops, forums and conferences to advance and safeguard the country’s market interest, covering both goods and services. These include SACU, SADC, COMESA, SADC-EU Economic Partnership Agreement (EPA), SACU + Mozambique - UK EPA, African Continental Free Trade Area (AfCFTA), COMESA-EAC-SADC Tripartite Free Trade Area (FTA), AGOA, Taiwan – Eswatini Economic Cooperation Agreement (ECA) and at the World Trade Organisation (WTO).

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