The Swaziland Investment Promotion Authority (SIPA) was created through an Act of Parliament, the Swaziland Investment Promotion Act 1998 and was formally launched in April of the same year. SIPA is a Category A Public Enterprise and is wholly funded by the Government of Swaziland with assistance from the European Union. SIPA's Mission is to: "Promote and facilitate foreign direct and local investment in Swaziland, with the objective of creating the wealth necessary to enhance the Social and Economic Development of the Kingdom and its people." The SIPA objectives are:
to attract, encourage, facilitate and promote local and foreign investment in Swaziland; to initiate, coordinate and facilitate the implementation of government policies and strategies on investment; to provide a one-stop information and support facility to local and foreign investors; and to advise the Minister on investment policies, strategies, proposals and suitable incentives for investors.
DEVELOPMENT ACTIVITIES SIPA's strategies and activities have focused on working towards the attainment of its broad objectives, and has focused on:
INVESTMENT PROMOTION (FDI): In order to promote the creation of employment opportunities, SIPA promotes Swaziland as an "Investment Location of Choice" to Investment Markets abroad such as Taiwan, Malaysia, Mauritius, the Republic of South Africa, Europe, United States of America and the United Kingdom. In this process, investment opportunities in Swaziland are presented to companies in seminars in groups or to individual companies on "one-on-one" basis based on direct targeting of companies.
Over the past eighteen months, SIPA has made Investment Seminar Presentations to groups of potential investors in Taiwan, The Chinese Chamber of Commerce in Johannesburg and Newcastle (South Africa), The American Chamber of Commerce in South Africa, The Japanese External Trade Organisation in South Africa (JETRO), Berlin and Hamburg (Germany), Brussels, Paris, and Luxembourg. Direct investment marketing has been conducted in Taiwan and South Africa (Johannesburg, Durban, Newcastle and Pinetown). Some companies have made site visits to Swaziland to assess the investment opportunities. Companies who have been interested in joint-venture partners have been referred to the major Investment companies such as Tibiyo Taka Ngwane and the Swaziland Industrial Development Company (SIDC) as well as other smaller individual companies. Liaison with SIDC has also been maintained on the availability of ready-made factory shells.
INVESTOR FACILITATION AND AFTERCARE SERVICE: The Investor facilitation service has the objective of providing a one-stop service facility for investment information and support to local and foreign direct investors who decide to establish business in Swaziland. Information provided covers basic cost factors, availability and costs of utilities, labour and transport costs. In addition, information is provided on business registration and licensing, work and residence permits, factory shells and available factory sites. This department also reviews government policies, regulations and legislation and makes recommendations for reforms to the relevant Ministry.
In this regard a SIPA Marketing Brochure and A Guide to Investing in Swaziland Handbook have been developed and distributed to potential investors. Recommendations have been made to Government in the areas of Corporate Tax and Entry Permits. Other recommendations have been made on Bills which are to be piloted by the Ministry of Enterprise and Employment. The processing of Investors' Work and Residence Permits is now handled by SIPA officials who, at this juncture, then communicate with the Department of Immigration on behalf of the Investor.
Within the Investor Aftercare Programme, the Department visits and assists established businesses on difficulties they may be experiencing so as to try and retain such investors in the country.
SMALL AND MEDIUM ENTERPRISES DEVELOPMENT (SMEs): This department has the responsibility of developing local entrepreneurs and encouraging them into participating in investment projects, particularly the primary business sectors as opposed to the retail sector. It also assists local entrepreneurs with their plans for expansions, and forming linkages with foreign direct investors either in joint-ventures or in sub-supply functions. The department conducts business seminars across the country in an effort to raise awareness and help budding business groups organise themselves. In all its activities, SIPA is supported by a Consultant who is funded by the European Union in its support programme for SIPA. SIPA SERVICES
Our Assistance comprises the following:
Information on cost of Doing Business in Swaziland Identification of Investment Opportunities Assistance in Sourcing Finance for investment Projects Creating Linkages for SME Developments with local & Institution Support Foreign & Local Business After-care support and Troubleshooting. Business Registration
Expansion & Diversification Coordinating Investment Activities with other Government Agencies/Utility Providers Investment Project Profiles
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