Swaziland attracts FDI in textile sector in 2008-13

14 Aug '13

1 min read

Swaziland’s Foreign Direct Investment (FDI) grew from E5 billion to E6.8 billion from 2008 to 2013, which has led to new investments in various sectors including textiles and garments.

The increase in FDI has also increased number of jobs in the textile and garments sector, especially in the Small, Micro and Medium Enterprises (SMMEs).

According to the Government Performance Report 2008-13 presented by the Swaziland Prime Minister, Barnabas Sibusiso Sicandamatje Dlamini, the FDI increased by E1.8 billion in four years and created 14,900 jobs, including 1,200 jobs created through the linkage of SMMEs to big businesses.

The increase in FDI is attributed to the Swaziland Investment Promotions Authority (SIPA) which was tasked with attracting foreign investors to the country.

According to the report, “In terms of investment promotion and entry of new investments, various new operations were welcomed into the Kingdom of Swaziland, during the 2008 to 2013 period, mostly through foreign direct investment and reinvested earnings and portfolio holdings.”

Majority of investments during this period were related to reinvested earnings, signifying the increased level of confidence investors had in the economy of Swaziland

Fibre2fashion News Desk - India

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