4 COMPANIES VYING FOR 20-YR TAX HOLIDAY

MBABANE – Four companies are in the running to be granted a 20-year tax holiday.

Of the four are American, Australian and Dubai - all of whom have local partners who are credible people within our private sector.
Minister of Commerce, Industry and Trade Manqoba Khumalo has disclosed that these companies have asked for Special Economic Zones (SEZ) application forms to be considered for an SEZ licence.

He said one of them had submitted their application and the other two were preparing theirs.
The minister disclosed that many companies have enquired about it, and they had provided all information and support in collaboration with the Royal Science and Technology Park (RSTP).

fantastic

Khumalo said the Eswatini Investments and Promotion Authority (EIPA) and RSTP management were doing a fantastic job of educating potential local and foreign investors about the RSTP but they needed to do more.

The minister also mentioned that a number of Taiwanese companies had also expressed interest and they were still considering their options.
Asked what the names of the companies were, Khumalo said they could not disclose the names for confidentiality purposes but stated that he intended to convene a full press conference on the status of investments in the country at the end of the month.

appreciate

 “I’ve asked these companies for permission to share their plans but as you will attest, they would rather keep this confidential until they know that their applications have passed because for all of them, the granting of the licence will actually ensure that their business case for investment is strong,” said Khumalo.

Khumalo added that he expected some Taiwanese companies to commit in the next two months.
It should also be mentioned that Eswatini has over 150 hectares of land ready to accommodate businesses that will enjoy the 20-year tax holiday.   

utilisation

Budding entrepreneurs and existent companies have been challenged to tap into Eswatini’s markets that boast over 500 million people through utilisation of the Special Economic Zones Act of 2018.

 These markets which include, but are not limited to, Southern African Customs Union (SACU), Common Market for Eastern and Southern Africa (COMESA), European Union (EU), Africa Growth and Opportunity Act (AGOA) and Economic Cooperation Agreement (ECA) that was entered into with Taiwan.
           

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: