Taiwan’s President Lai Ching-te visited the Royal Science and Technology Park at Nokwane, the site earmarked for the Taiwan Industrial and Innovation Park, where he was also updated on the Strategic Oil Reserve project.
Following the site visit, Minister of Commerce, Industry and Trade Manqoba Khumalo briefed the President on the progress made in establishing both projects, which are expected to reshape Eswatini’s economic landscape, and reaffirmed the Kingdom’s partnership with Taiwan.
“These initiatives are pillars of our economic advancement and enduring symbols of the mutually beneficial relations between our two nations,” Khumalo said. “This partnership remains a cornerstone of our development agenda, and we look forward to continued collaboration and shared prosperity.”
The Strategic Oil Reserve project is expected to strengthen Eswatini’s energy security by cushioning the country against global oil supply disruptions. The integration of bioethanol derived from the local sugar industry will promote sustainability, strengthen domestic value chains and reduce dependence on imported fuel.
The Taiwan Industrial and Innovation Park is set to accelerate industrialisation, drive economic diversification and create jobs, with construction expected to begin soon and completion projected within 18 months.
Khumalo also welcomed the commitment by Texray Group, whose planned investment in the park marks a significant step in attracting international investors. The Ministry and the Eswatini Investment Promotion Authority have pledged full support to ensure the success of such investments.
The Minister also drew attention to the country’s Residence by Investment programme, designed to attract high-value investors and stimulate foreign direct investment across priority sectors.
Khumalo concluded by expressing appreciation to the Government of Taiwan, development partners and all stakeholders involved in advancing the two projects.
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