POLICY TO ENHANCE FOREIGN, DOMESTIC INVESTMENT

EZULWINI – The Inaugural Eswatini Investment Policy, whose validation workshop was held yesterday, is designed to enhance both foreign and domestic investments in the country, among other things.

The country has been operating in an investment policy vacuum, hence the Eswatini Investment Promotion Authority through the Ministry of Commerce, Industry and Trade, working in collaboration with the Southern African Development Community (SADC) Secretariat, drafted the policy. The situational analysis of the status of investment in the Kingdom of Eswatini points to falling investment and rising unemployment. The analysis depicts that foreign direct investment (FDI) has fallen from 2.04 per cent in 2011 to 1.10 per cent in 2021 and the economic growth rate has been steady at 3.8 per cent, less than the average growth rate of the SADC countries. The country’s unemployment rate, according to the recent labour survey, stands at 35.1 per cent, a 2.4 per cent increase from the 33.3 per cent survey for 2023.

Investments

Making his address during the validation workshop of the policy, which is yet to be submitted to Cabinet for approval, Principal Secretary in the Ministry of Commerce, Industry and Trade Melusi Masuku, said the policy was designed to create an enabling environment that attracts both domestic and foreign investments, while ensuring that these investments are aligned with the country’s national development priorities. Masuku was represented by Dr Celucolo Dludlu, the Intellectual Property Registrar in the ministry. He mentioned that the gathering marked a significant milestone in the country’s collective efforts to create a robust and forward-looking framework, that would drive sustainable economic growth and development in Eswatini.

“As we gather here, we are reminded of the critical role that investment plays in the prosperity of our nation. Investment is not only a catalyst for economic growth, but also a means to create jobs, enhance skills and improve the quality of life for our people. This workshop provides us with a unique opportunity to validate and refine the policy that will guide our investment landscape in the years to come,” he said. Masuku stated that the Eswatini Investment Policy is a product of extensive consultations, research and collaboration among various stakeholders, both within and outside the country.

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