Times Of Swaziland: EIPA SIGNS MOU WITH ZAMBIA DEVELOPMENT AGENCY

EIPA SIGNS MOU WITH ZAMBIA DEVELOPMENT AGENCY
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Nhlanganiso Mkhonta on 20/11/2024 08:54:00


MBABANE - The Eswatini Investment Promotion Authority (EIPA) has signed a
Memorandum of Understanding (MoU) with the Zambia Development Agency (ZDA).
The MoU is aimed at establishing a practical framework for the development of
stronger business relations between the two countries and to create
opportunities for cooperation for the expansion of investment and trade
relations between Eswatini and Zambia.
This will also strengthen institutional relations and capacity building through
mutual cooperation. The ZDA is Zambia’s economic development Agency with a
multifaceted mandate of promoting and facilitating trade, investment and
business development services in Zambia. Sibani Mngomezulu, Chief Executive
Officer (CEO) of EIPA comments on the agreement between the two organisations:
“We are pleased to have signed an MoU with the Zambia Development Agency.
“Such agreements allow us to continue to work towards EIPA’s mandate which
is to attract, encourage and facilitate both local and foreign trade and
investment in Eswatini.
Launching
EIPA guided by the Ministry of Commerce, Industry and Trade is currently in the
final stages of the launching the new investment policy as well as completing
the amendment of the new EIPA Act of 1998. These two documents will also support
the establishment a one stop service facility where investors will get to enjoy
a suite of services including permit applications, trading licences and others,
under one roof. These developments require us to build strategic partnerships
with key stakeholders to gain the support and expertise needed to ensure their
successful implementation into the local economy. This MoU with the ZDA is one
such partnership,” said Mngomezulu. The MoU was signed at the ZDA Offices in
Lusaka Zambia on November 14, 2024. The document will form the basis of a
relationship between EIPA and the ZDA which will see both parties undertake to
cooperate in a number of areas.
The first of these is investment and trade promotion and facilitation where the
ZDA will assist Eswatini with increasing Zambian investment in Eswatini and vice
versa. This includes outward and inward foreign direct investments (FDIs)
between both countries, which will be stimulated as a result of the new MoU. The
objectives also include undertaking Trade and investment missions into one
another’s countries, increasing the volume and value of trade between the
countries and encouraging tourism. The ZDA has also shown interest in taking
part in the Eswatini International Trade Fair in 2025.
Create
The MoU will also allow for an information exchange between EIPA and the ZDA
which will endeavour to create an exchange of information on trade and
investments, rules, incentives, policies, regulations and investment
opportunities as well as allowing for joint research activities to facilitate
trade and investment. The sharing of information and research will also allow
for collaboration and exchange programmes including the exchange of technical
expertise, knowledge and training on opportunities in trade and investment
promotion and facilitation, investor aftercare and policy advocacy.
This includes encouraging linkages for export between both markets as well as
encouraging partnerships between Small and Medium Enterprises (SMEs) from both
countries.
“This MoU will allow us to enjoy a number of benefits in partnership with the
ZDA. The aim is to make opportunities available for businesses in Eswatini for
export, skills exchanges and partnerships all for Economic Development in
Eswatini for the good of all citizens,” said Mngomezulu.