Swazilanders eye local investors

CEBU, Philippines - Delegates from the Kingdom of Swaziland to the “One Cebu Exhibit” are encouraging more Cebuano businessmen to consider investing in their country.  

The One Cebu Expo opened last Friday, August 7, at the Cebu International Convention Center.

The Kingdom of Swaziland, which is found between the South Africa and Mozambique, graced the opening of the exhibit at the same participated in it by displaying information about their country, wherein members of their delegation were free to explain to anyone interested in investing in Swaziland.

Chief Executive Officer Phiwayinkosi Ginindza said that aside from tourism promotion, they would also like to encourage more investors to come to their country.

Ginindza explained that there are a lot of advantages for the awaiting investors aside from the good location like the low cost base and is “well-positioned to export under existing preferential market access agreements in to the US, Europe, and several African trading blocs.”

These are reportedly a few of the advantages that have already enticed other leading companies abroad to start their operations in Swaziland such as Coca-Cola and Cadbury Schweppes.

According to Ginindza, textile, garments and agriculture manufacturing is the best investment seen in their country as it is the remains of the major employer with 70 percent of the employment status on these industries.

The country’s ministry of Commerce, Industry and Trade are also working hand-in-hand with regional trade associations to provide tax incentives that assures investors of the growth and security of their businesses.

In 1998, the Swaziland government and the European Union also came up with the Swaziland Investment Promotion Authority (SIPA) that would help provide information on investment incentives, procedures, probable locations and the cost of doing business.

Also through the SIPA, joint venture partnerships could be established and other means of creating business connections.

Swaziland Tourism Minister Macford Sibanze added that in terms of safety and security of the people, they can assure investors that this would not be a problem as their country remains to be a very peaceful place and they are making sure that their security measures are in place.