DIRECT INVESTMENT FLOWS IMPERATIVE

MBABANE - The need to attract higher and sustainable levels of direct investment flows is imperative to the business sector of Eswatini.

This would not only increase investments but would also avail the opportunity for businesses to expand in terms of trade and market availability. Higher levels of direct investment flows contribute to the growth of industries like manufacturing, textile, processing and construction. Khanyisile Dlamini, Eswatini Investment and Trade Promotion Authority (EIPA) Senior Executive Manager of Investment Promotion yesterday said the need to attract higher and sustainable level of direct investment flows can be done through Common Market for Eastern and Southern Africa (COMESA).

Revised

The senior manager was speaking during the revised COMESA Common Investment Agreement (CCIA) framework public awareness workshop at Emafini Country Lodge. Dlamini said trade and investment are vital drivers of economic growth. She said foreign direct investment had become a key element of trade between different countries. “It has been realised that direct investment is an important source of finance for sustaining the pace of economic, industrial, infrastructure and technology development,” she said. The executive mentioned mergers and acquisition, as well as growth in international project finance makes it possible for investments within COMESA. She said as a country, they needed to change the way they did business and attractd investors.

Promote

“We need to promote regional access, attract investors from the region,” she said. Dlamini also mentioned The CCIA would enhance COMESA’s attractiveness and competitiveness for promoting foreign direct and cross border investments. “All along we have been advocating for our business to trade with the trade blocs, including COMESA, now through the CCIA we will promote investing in COMESA,” she added. Minister of Commerce, Industry and Trade Manqoba Khumalo said the pandemic had created new structural challenges and accentuated existing ones, from insufficient competition to skills shortages, inadequate infrastructure, political instability, poor governance, to weak regional integration. Khumalo was represented by Cebile Nhlabatsi the Under Secretary (US) from the Ministry Of Commerce, Industry and Trade.

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