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Govt built ready-made sheds attract FDI in clothing sector
15
Apr '10
Phiwayinkhosi Ginindza, Chief Executive Officer (CEO), Swaziland Investment Promotion Authority (SIPA), stated that ready-made factory buildings were built by the government in order to boost industrial growth by providing ready-to-be-occupied facilities.

The underlying intention behind providing factory sheds to the investors was certainly not to earn money, but to generate employment and draw more Foreign Direct Investment (FDI) in the country.

Swaziland Investment Promotion Authority (SIPA) manages those government owned factory sheds. Of all the government factory sheds in the country none is vacant, and textile and apparel companies have occupied most of them, who have set up manufacturing bases in the country.

Elucidating the same, Ginindza said that the government factory shells are available comparatively at cheaper rates than those charged by the private sector. He explained that such lower rates serve as motivation for increasing manufacturing activity in the country.

He also added that the country has benefited from the ready-made factory shed project has immensely helped the Swaziland economy.

As in comparison to the rates charged by the private sector, government factory sheds are available at cheaper rates to help Swaziland draw more investors from other countries, where their government provides relocation grants for shifting, which is not the case with Swaziland, Ginindza said.

In addition to this, he also divulged that, the economy has gained from the programme through employment generation, as it indirectly created jobs in associated sectors like water, electricity, laundry services, retailers, hawkers, financial, transport, etc.

For instance, the textile sector which to a larger extent contributes to the domestic manufacturing earned considerable foreign exchange for the economy.

Fibre2fashion News Desk - India


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