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By KING’S OFFICE CORRESPONDENTS | 2024-10-18
His Majesty King Mswati III expressed the country’s full preparedness to receive more investors from Italy and that they would get the cooperation they need to set up shop.
Speaking to several companies that had paid him a courtesy call after an Eswatini-hosted business forum yesterday, the king expressed his appreciation to each of the companies that set aside time to attend the seminar.
He said while they have identified the possible ventures, this should not limit their investment as the country was fertile for a wide range of investments, from beneficiation of raw materials to the manufacture of vehicle components.
Potential
He commended emaswati who had played a role in identifying partnerships with potential investors in the various sectors, which he described as key for both the economic development and return on investment for the companies, as well as attainment of the first world status goal.
One of these areas is energy, and he shared that Eswatini, being dependent on South Africa for power supply, urgently needs to become self-sufficient in energy.
His Majesty also highlighted the significance of the World Food Forum (WFF) at the FAO headquarters, saying Eswatini and the global community have a goal to become food-self-sufficient.
He invited the experts of the various companies that had attended the business seminar to help the kingdom shape its future, not only in agriculture but in ICT, commerce and many other areas.”
“We appreciate your participation at the business forum and hope the message was well received and understood, so that you will become part of the solution of what we are trying to do in Eswatini,” urged the king.
Involved
The businesspeople who met the king included energy producers, project management consultants, vehicle engine manufacturers and a marketing and relations company, among others.
One of these companies, Studio Pietrangeli, boasts of consulting engineering work for the biggest dam in Africa built in Ethiopia, which is one of 52 dams it has been involved in over the past 100 years, none of which have ever reported a problem.
Locally, it was involvement in the construction of the Maguga HPP expansion, raising of Hawane Dam, Nondvo Dam, Ethemba Dam, Mpakeni Dam and Irrigation Scheme.
Another company, Synfast Power Italy, MSQ Eswatini and MADA Energy Consortium, has put forward a proposal to develop two 25 megawatt renewable power generation plants in Eswatini, an investment of about E2.4 billion at current exchange value. It seeks to use the country’s sugarcane and woodchip waste to generate power.
NEXT Relations Company has shown interest in marketing the country as well as highlighting investment opportunities in the sports sector.
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