Eswatini is a fertile and impressive ground for trade and investment.
This was shared by Eswatini Investment and Trade Promotion Authority (EIPA) Executive Head for Investment Promotion Martin Masilela during the Eswatini-Taiwan business investment seminar held at the Royal Villas in Ezulwini recently.
He says Eswatini also provides several advantages to investors, these included access to markets, educated, skilled and trained labour force, efficient economic structure, pro-business government, political stability, 100% foreign ownership and ease of doing business.
As advantages, Masilela added Residence by Investment (RBI) of 10 years renewable residence permit for investment of E18.12-million (USD1-million) which he said was a plus for both business and investment in residence.
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Masilela added that under the retirement VISA, there were expatriates with vast industry experience especially in academic, scientific, medical and engineering typically the science, technology, engineering and mathematics (STEM) fields with adequate means of living with actual thresholds yet to be defined.
“Business One Stop Shop (BOSS) launched in May helped to centralise government approval formalities and there is available local experienced talent and graduates from Taiwan who can work collaboratively with leaders of Taiwan Businesses in Africa.
Priority sectors include manufacturing and agro-processing, agriculture, energy and mining, tourism, education and information, communication and technology (ICT). Outputs are jobs, investments, goods and services,” he said. Adding, he highlighted incentives that include corporate tax concession.
He says they would experience 10% tax for a period of 10 years and tax exemption on dividends in manufacturing and value addition, tourism, sustainable development and scientific knowledge. He also mentioned duty free access of machinery and equipment, machinery allowances with 30% value of machine as tax credit for the first year of operation.
“As incentives, there is also accelerated depreciation as tax savings on asset and machinery, tax rebates for raw materials on custom duties paid for purposes of export outside the Southern African Customs Union (SACU) and a range of Special Economic Zones (SEZs) incentives including tax exemptions,” added Masilela.
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