ROME, ITALY: Three Eswatini ministers took turns to invite Italian and European businesses to invest in the country, saying the Kingdom is open for business.
This was during the Eswatini-Italy Business Seminar held under the theme: Doing business and sourcing goods from Eswatini here in Rome yesterday.
Commerce Industry and Trade Minister Manqoba Khumalo told the seminar that trade with Italy currently stands at approximately E400 million (which is USD 20 million) on average per year.
These were close to 30 businesspeople who had the opportunity to meet with His Majesty the King for pictures and brief introductions after the seminar.
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He said this was through the European Union-SADC Economic Partnership Agreement, which seeks to provide access to products from both regions.
“We have noted that several of our companies are penetrating the EU markets and the European Free Trade Area in sectors of food and textile products, among others.
This number reflects scope to increase bilateral trade,” he said.
Khumalo said the Kingdom, operating under the “Nkwe” mandate, has endeavoured to work quickly to create a compelling environment for businesses to thrive in Eswatini.
He said the country hosts a number of Italian businesses in various sectors, including construction, engineering design, manufacturing, textiles, hardware and industrial tools.
Khumalo stated that Italian businesses can reap significant benefits by establishing their operations in the country and gaining access to the African Continental Free Trade Area.
He said the Eswatini Investment Promotion Authority (EIPA) stands ready to unpack the great potential that the African market presents.
The Commerce Industry and Trade Minister Khumalo then articulated some of the available opportunities the businesses can explore in the Kingdom of Eswatini, such as investing in the USD 1.8 billion
(approximately E34 billion) Eswatini-South Africa Rail Link project, the Mpakeni Eco-City USD 200 million (approximately E3.8 billion) project,
the iron smelter industry, the Big Five National Park, the construction of a FIFA-approved National Sports Stadium and the development of a Smart City around the King Mswati III International Airport.
The minister further added that other opportunities are in the establishment of a hydropower plant in partnership with local corporations, investment in the Royal Science and Technology Park,
development in the country’s two Special Economic Zones (which are meant for export markets), agricultural projects for domestic and export markets and industrial development and agro-processing zones.
The minister said operating under His Majesty the King’s “Nkwe” command, which has injected a sense of urgency in all its dealings, the government is committed to delivering its services with speed, agility,
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efficiency, execution and quick decision-making and this is what sets the country apart from the rest of the continent.
Foreign Affairs and International Cooperation Minister Pholile Shakantu reiterated the Commerce, Industry and Trade minister’s words that indeed Eswatini was open for business, as already alluded to by Italian businesses already established in the country.
She said the country prides itself on providing a peaceful and stable environment for businesses to thrive. Shakantu said the country derives its stability and peace from the fact of being a kingdom that has been in existence for hundreds of years through the leadership of His Majesty King Mswati III.
“The King has been able to keep the country stable and peaceful. We all speak the same language and are united as a single, happy family.
We consider this attribute to be very critical for any business that wants to establish itself in our country,” she said.
The foreign affairs minister said the country is not only open for business but for people across the globe to visit as tourists.
“Eswatini is a very beautiful country where one can be treated to royalty experiences and various cultural activities, safaris and hiking.
We would like you to come to Eswatini first as tourists, experience the culture and scenic beauty and then come and invest in the beautiful Kingdom,” she said.
Shakantu said, as already shared by the Eswatini Consular in Rome, Francisco Napolitano, that the kingdom is the best country where one can raise his or her family.
She said her Ministry of foreign affairs and International Cooperation through its London offices is available to give them any assistance to get them to the kingdom as they consider visiting and investing in the country.
Agriculture Minister Mandla Tshawuka echoed the statement by her foreign minister that Eswatini is very peaceful, tranquil, and stable, which are key factors businesses consider before making the decision to invest in any country.
“We are a country that is well-led, stable and peaceful. Eswatini is open for business and as a new government, we have been commissioned by His Majesty the King to ensure that hunger and poverty are eradicated in the shortest time possible.
“From an agricultural perspective, we need to ensure food sufficiency. We are looking for investors to grow enough of our stable foods, which are maize and beans and produce enough milk,” he said.
Minister Tshawuka stated that further development of the Afro-business side of agriculture is necessary to ensure the country’s ability to process its produce.
He said land is available in the Special Economic Zones to create such industries.
He said the size of the country and its population do not matter to investors, as it can be used as a launchpad for accessing the many global markets the kingdom has established.
