Eswatini amends SEZ Act to attract investors
MBABANE – The Government of Eswatini hopes to attract more investors in the upcoming years, as it has already started the amendment of the Special Economic Zones (SEZ) Act.
A diagnostic process had been carried out by the Export 3rocessing Zones Authority (E3ZA) from the 5epublic of China (TaiZan) Zho, through an intergovernmental cooperation ar rangement agreed to assist EsZatini to reform the SEZ legislation. Director International Division -erry Wang said special economic ]ones remain a Ney catalyst to stimulate eco nomic development. He said Zhile other countries have different objectives of having estab lished these economic ]ones, empirical evidence shoZs that they Zere a corner stone for economic development. Wang said in order for the special economic ]ones phenomenon to be a success in the Kingdom of EsZatini, government should revieZ the special economic ]ones act of 20 . He said this Zould ensure that it Zas in line Zith global reTuirements. )urthermore, govern ment should fast tracN the issue of providing the outstanding infrastructure reTuirement, such as the completion of the one stop shop service centre to host the relevant service provider. He presented that, indeed the SEZ Act needed significant amendment to increase legal transparency and strengthen the organisation and func tions of the SEZ Committee. He said the enforcement rules and related regulations of the SEZ Act must be completed to facilitate investment promotion and development of 5oyal Science and Technology 3arN (5ST3). Wang also noted that the current governing ministry for the SEZ Act is the 0inistry of Commerce, Industry and Trade, Zhile 5ST3 is under the jurisdiction of the 0inistry of Informa tion, Communication and Technology (ICT). He said as it is under different ministries, it may affect the overall operation. He said, therefore, it Zas recommended to establish a clear path and related business authorisation mechanisms for each ministry. ³It is suggested that personnel be stationed in 5ST3 from each ministry to promote the one stop shop service through joint office,” said Wang. 0eanZhile, the 5ST3 Acting Chief Executive Officer (CEO) Khanyisile Dlamini said the findings made by the TaiZanese consultant shoZed that the SEZ Act needed significant amendment to increase legal transparency and strengthen the organi]ation and func tions of the SEZ Committee. Dlamini said the revieZ of the Act Zas proposed to include the revieZ of the roles and responsibilities of Ney players in the SEZ programme, Zhich include developers, operators and im plementing agencies.