Dubai capitalists interested in energy, sugar, coal mining

DUBAI captains of industry have expressed a strong interest in venturing into Swaziland’s energy sector, sugar industry and coal mining.

Participants at an investment seminar hosted by a Swazi delegation led by Minister of Commerce, Industry and Trade Jabulile Mashwama at Burj al Arab Hotel in Dubai on Tuesday expressed a strong interest in the energy sector (in particular electricity and natural gas), sugar industry and coal mining.

During one-on-one meetings which were later held between Tibiyo TakaNgwane, the ministry of natural resources and Swaziland Investment Promotion Authority (SIPA) with individual companies, one indicated that they would like to visit the country during the second week of next month.

Meanwhile, Mashwama assured the potential investors that Swaziland was ready to be their gateway into Africa and the rest of the world.

She said this had been made possible by government’s continued efforts to ensure that the country had the required infrastructure such as roads, dams and well serviced industrial sites for production and to access regional and international markets.

“We also have a dedicated cabinet team that works tirelessly to ensure that Swaziland is one of the countries where it is easy and convenient to do business,” she told captains of industry from the Dubai business community.

Mashwama said Swaziland’s competitive advantage remained its strategic location in Southern Africa, given the country’s close proximity to ports, quality infrastructure, highly trainable and committed labour, peace and stability.

“The Kingdom of Swaziland has created a conducive macroeconomic environment to ensure that you have maximum returns on your investments. These policies include inflation targeting to single digit inflation rate and liberal financial sector, where you can freely repatriate your profits.

“We have also embarked on an accelerated infrastructural investment programme, which involves our new and bigger international airport to be completed by December 2010, to enable you to move your products to international markets with ease,” she said.
Adding, the minister noted that the country’s regional and international markets include the Southern African Development Community (SADC), Common Market for Eastern and Southern Africa (COMESA), Europe, United Kingdom, USA and Asia.

“Swaziland is blessed with the best weather climatic conditions which makes it favourable for the production of agricultural products such as sugar, vegetables and citrus fruits. These are some of the areas that can be explored for products that can be traded between our two countries,” she said.

source: The Swazi Observer