Swaziland
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MORE INVESTMENTS FROM UAE IN PIPELINE

MBABANE – As more possible investments from the UAE are being identified, the government is continuing to implement its Foreign Direct Investment (FDI) programme.

The Minister of Commerce, Industry and Trade, Manqoba Khumalo, is currently in Abu Dhabi attending the 12th Annual Investment Meeting (AIM), which is one of the world’s leading investment platforms. This FDI opportunity provided procurement, employment, and trade opportunities for the local business community. According to a statement released by the Ministry of Commerce, the minister held another meeting on the sidelines of the meeting, where he met with officials from the Abu Dhabi Chamber of Commerce and Industry: Dr. Ali Saeed Harmal Aldhaheri, the Vice Chairman, and Masaood Rahma Al Masaood, a Treasurer and Board Member of the Chamber.

Prospective

Their conversations focussed on prospective investments in shared fields of interest and the development of value chains that included the MSME sector as engines of economic expansion. “The discussion on digital transformation was one of the other meetings the honourable minister and his delegation attended. Additionally, the minister and his delegation will attend workshops on investment facilitation in the upcoming days, according to the statement from the ministry. Further emphasis was placed on the fact that Khumalo will continue to discuss topics such as how a new agreement can increase FDI flows and prosperity, investment opportunities and problems for SMEs, implementing smart enterprises through innovation, and the digital economy for SMEs, among others.

More information about the minister’s trip will be available when he returns, and opportunities sought will be revealed. Worth noting, this would not be the first investment from the United Arab Emirates, Emirates Management Investment (EMI) Gate Holding is also setting up shop locally. Minister Khumalo announced EMI Gate Holding from the United Arab Emirates (UAE) as one of the new foreign investors in Eswatini. A partnership between Eswatini and the UAE’s biggest investment company, Emirates Management Investment (EMI) Gate Holding was signed last year IN October during His Majesty King Mswati III’s visit to the UAE. As part of their appreciation for the new investment, EMI Gate Holding President HRH Fatima Alkaabi promised the people that they would build a school for over 1 500 students, a hospital with ten ambulances, and a foundation. The president also said they have committed to providing about 2500 job opportunities for Emaswati in their various job entities. “EMI Gate Holding has committed to providing 2000 to 2500 job opportunities for the Eswatini nation to work for our various entities, and we will start accepting applications next month,” she said.

Visited

EMI visited Eswatini last year on November 7, 2022, and the delegation, led by their founder and President of EMI Gate Holding, Her Excellency Fatima Alkaabi, paid a courtesy call to Deputy Prime Minister (DPM) Themba Masuku, who assured them that Eswatini has the best labour-skilled personnel. Masuku said Eswatini was a good investment destination, and there were more sectors in need of investors in the country. The DPM said investments were imperative for the country, as trade was the biggest contributor to the economy. “Eswatini has all the necessary labour needed by any business; we have academically skilled personnel who have had the opportunity to study abroad,” he said. Masuku further assured the potential investors in Eswatini that great strides could be derived in tourism, mining, and agriculture. He said the conditions of investment in the country were now more favourable to both investor and investee. HRH Fatima Alkaabi, during her visit last year, said that they aimed to utilise the local labour force should they decide to invest locally.