KING SETS E10BN TARGET FOR RSTP

PHOCWENI - His Majesty King Mswati III is banking his hopes on the Royal Science and Technology Park (RSTP) to turn the economy of the country around.
His majesty revealed this when he officially opened the RSTP building; the E240m Information Technology (IT) Park at the Innovations Park at Phocweni yesterday.

He said science and technology parks were critical for the sustainable development of the nation since they were the engine and heart of creativity and innovation of every country.
“The establishment of a science, technology and innovation facility will propel the Kingdom of Eswatini to First world status by 2022 as it represents a great milestone in the country’s development agenda.”
The King said science parks, world over, provide enabling infrastructure for the transformation of a traditional economy to a ‘knowledge economy’.

He said it also provides locations that foster innovation, development and commercialisation of technology and where governments, universities and private companies collaborate.
He added that he had seen countries without natural resources using science parks to generate billions of US Dollars.

He made an example with one country, which he visited by saying he was amazed to learn that its science park generated over US$200 billion turnover per annum.  “We also need to emulate this country by having a target of generating E10 billion for a start and as RSTP grows, our goal should be making over US$10 billion (E130 billion) per annum,” the King said.

He said he was aware that some people doubted this but said he believed that even the country he was referring to never thought that it would generate so much revenue when it constructed its science park.
His majesty said it only happened because they believed in their park.
“I urge Emaswati to also believe in this project in order to achieve our targets.”

On that note, the King said the RSTP availed vast opportunities to the nation, companies and organisations. He urged the nation to place their businesses at the park to add to the already existing high-tech companies which were standing at the gate and lining up for investment at the Innovation Park. His majesty emphasised that he was urging the nation to support the Park because he had seen that in other countries, science parks remained the employment creation tools if well supported. Further, he said he also believes that with good support to this institution, the country could realise massive economic growth and development.

In a bid to prove that it was possible to achieve the target, the King said within the world class four-storey IT Park, which was only an entry facility into the Innovation Park of RSTP, there was a data centre that could generate up to E240m in revenue per annum.
Other departments, which are housed in the IT Centre, include advanced school of information technology, national contact centre, business incubator and entertainment centre where Emaswati could record digital videos and music with high quality sound, among other things.

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