E1 billion from Taiwan
LUDZIDZINI - The Kingdom of Eswatini will receive about E1 billion from the Republic of China (Taiwan) for various developmental projects.
This was revealed by His Majesty King Mswati III during a press conference held in the early hours of yesterday at Ludzidzini Royal Residence, where he was reporting about his two-week long official State visits. During the trip, the King visited Abu Dhabi, which is the Capital City of the United Arab Emirates (UAE), Republic of China (Taiwan), Dubai and Republic of South Africa.
Development
The King said while he was in Taiwan, the government pledged to assist the country with E1 billion for infrastructural development and tourism, to mention a few.
He said during his meeting with the Taiwanese Government, they agreed to expand the scope of the existing bilateral agreement, in terms of projects and financial support, among other things
On another note, he said he met with a number of businesses, including a drone manufacturing company, which would establish an about E400 million factory in the country. He said the drones which the company produced were used in farming, while others transported important items like medication to remote areas in times of emergencies.
“The drone producing company will have a number of components, including technology,” the King said.
On the other hand, the King saidAmitofo Care Centre, which already had a centre in the country, said it wanted to expand by establishing a university, which would work closely with the Royal Science and Technology Park (RSTP) and another school along the Manzini/Mbabane corridor.
On top of that, he said Amitofo Care Centre said it was looking to set up an institution that would focus on farming, in one of the regions in the Kingdom of Eswatini. He added that the Taiwanese and Amitofo Care Centre had a good record in farming.
The King added that the UAE, in particular in Abu Dhabi, he also met with a number of businesses, some of which dealt in electricity, natural gas and oil, which were sectors that the country was interested in. He said some of the businesses were already looking at viable investments in the country.
Worth noting is that the partnerships which the country was building with the above mentioned States would benefit the RSTP because a number of businesses had shown interest in investing in the country so that they could take advantage of the science and technology parks at Nokwane and Phocweni. It is worth noting that at RSTP, the country has special economic zones, which it would use to lure foreign direct investments (FDI).