Times Of Swaziland: POLICY TO ENHANCE FOREIGN, DOMESTIC INVESTMENT

POLICY TO ENHANCE FOREIGN, DOMESTIC INVESTMENT
================================================================================
Sabelo Majola on 22/08/2024 16:30:00


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.