Taipei – Tex Ray Industrial Co., Ltd. founder and chairman Ray Lin has pledged to increase his company’s investment in Eswatini, citing confidence in the Kingdom’s potential as an investment destination.
Lin made the pledge during a dinner he hosted in Taipei, Taiwan, in honour of Prime Minister Russell Mmiso Dlamini and his delegation.
He said Tex Ray was interested in introducing high technology textile manufacturing in Eswatini while also assessing opportunities in other sectors.
The dinner brought together Taiwanese investors from the renewable energy, pharmaceutical, fibreglass manufacturing, banking, construction and innovation industries.
Lin used his 25 year investment experience in Eswatini to encourage the business leaders to consider establishing operations in the Kingdom. He pointed to Eswatini’s investment climate and its longstanding partnership with Taiwan as some of the factors that could benefit investors.
Prime Minister Dlamini thanked Lin for maintaining his confidence in Eswatini and recognised Tex Ray’s contribution to the country’s economy over the past two decades.
The Prime Minister also invited the Taiwanese investors to set up businesses at the Taiwan Innovation Industrial Park in Phocweni. The park is expected to support industrialisation and attract more foreign direct investment into Eswatini.
Dlamini outlined the country’s development plans, which are guided by His Majesty King Mswati III’s vision and the resolutions of Sibaya. The plans seek to accelerate economic growth, industrialisation and job creation as Eswatini works towards becoming a first world nation.
The Prime Minister said unemployment, particularly among young people, remained one of the country’s major challenges.
“We have a big task ahead of us, one that His Majesty has entrusted us with, and that is to develop Eswatini. While we face challenges, they are not insurmountable. One of our greatest challenges is unemployment, particularly among our youth, who make up about 70 per cent of our population.”
He called on investors to support job creation and help young people develop businesses of their own.
“This calls on us to work even harder, not only to create jobs but also to empower young people to become job creators themselves. If all of you were to invest in Eswatini, our country would never be the same again.”
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