In an exciting development, the Kingdom of Eswatini has secured a staggering E6 billion investment from the Republic of China (Taiwan) for the establishment of a Taiwan Innovation Park at Phocweni.
His Majesty King Mswati III hailed the investment as a historic milestone, declaring that it was the first time that Eswatini had officially allocated land specifically for use by a foreign nation.
The announcement of the investment was made by Dr Charlie Chiang, Director at Taiwan’s ministry of foreign affairs, during a business presentation attended by His Majesty at Mandvulo Grand Hall yesterday.
The innovation park will become a hub for industrial development, job creation, and technological advancement in Eswatini. It will feature two major components; an industrial zone exclusively reserved for Taiwanese investors to set up businesses, and a residential area to support the park’s workforce and stakeholders.
According to Dr Chiang, construction is expected to be complete within 18 months following the commissioning of the project. He said this development marked a new era in the cooperation of the Kingdom of Eswatini and Taiwan. Explaining the planned financing model for the innovation park, Dr Chiang said the Taiwan International Cooperation and Development Fund (ICDF) will invest a larger portion followed by the Eswatini government and the private sector. This facility is expected to operate primarily on solar power as a power plant to supply 10 Megawatts of energy.
The king described the move as a symbol of deep trust and friendship between Eswatini and Taiwan will be built.
He said it reflects Taiwan’s long-standing commitment to supporting its allies through tangible economic partnerships.
“This is history in the making,” the king proclaimed. “We have taken this bold step because Taiwan is not just our partner, but our true ally. We believe in Taiwan’s potential to uplift our economy and empower our people.”
His Majesty also mentioned that Taiwan had proven to be a great development partner despite its precarious position.
He emphasised that Eswatini had been and will continue to lobby for Taiwan’s international recognition because development projects like the one to commence between the kingdom and Taiwan are proof that the latter had a lot to offer the world.
His Majesty also used the opportunity to invite other countries to follow Taiwan’s example and invest in Eswatini.
“All that other countries need to do is identify the land where they could set up businesses in the country. Once that is done, we will support them and expedite all processes,” he said, signalling the government’s openness to further foreign partnerships aimed at advancing national development.
Further, the king said the park is expected to attract a wide range of Taiwanese industries, from manufacturing to technology, bringing not only capital investment but also skills transfer and employment opportunities for the local population. He noted that the project will be a catalyst for industrial growth and a significant boost to Eswatini’s economic diversification efforts.
“Taiwan, being an industrialised nation, has a lot of experience to share with Eswatini so that we could follow suit in its footsteps and implement good practices. I have been lucky to have visited some Taiwan businesses where I learned that a certain company had an annual turnover of US$250 billion. This is more than a national budget for some countries,” stated the king.
Therefore, he said if experiences are shared, Eswatini stand to benefit a lot and has a potential of having businesses that make a lot of returns.
The King also said as Eswatini and Taiwan continue to strengthen their diplomatic and economic ties, the Taiwan Innovation Park stands as a bold statement of what is possible when nations collaborate with trust, vision, and shared values, and that it will leave a legacy for future generations from both countries.
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