BY MBONO MDLULI
MBABANE – President of the Republic of China (Taiwan), Lai Ching-te, on Sunday visited the Royal Science and Technology Park (RSTP) at Nokwane, where he received an update on the progress of the Strategic Oil Reserve project.
The visit, which took place on May 3, 2026, forms part of efforts to strengthen bilateral cooperation between the Kingdom of Eswatini and Taiwan, particularly in key economic and industrial sectors.
Focus on Strategic Development Projects
During the tour, President Lai was briefed on developments at the Royal Science and Technology Park, which has been earmarked for the establishment of the Taiwan Industrial and Innovation Park. The project is expected to play a pivotal role in advancing industrialisation and innovation in Eswatini.
Following the site visit, a presentation was conducted where Minister of Commerce, Industry and Trade, Manqoba Khumalo, outlined the progress achieved in both the Strategic Oil Reserve and the industrial park projects.
He emphasised that the two initiatives are critical to transforming the country’s economic landscape and reaffirmed the strong ties between Eswatini and Taiwan.
“These initiatives are pillars of our economic advancement and enduring symbols of the mutually beneficial relations between our two nations,” said Khumalo.
“This partnership remains a cornerstone of our development agenda, and we look forward to continued collaboration and shared prosperity.”
Boosting Energy Security and Sustainability
The Strategic Oil Reserve project is expected to significantly enhance Eswatini’s energy security by safeguarding the country against global oil supply disruptions.
Importantly, the project will incorporate bioethanol produced from the country’s sugar industry. This integration is set to promote sustainability, strengthen domestic value chains, and reduce reliance on imported fuel.
Industrial Park to Drive Economic Growth
Meanwhile, the Taiwan Industrial and Innovation Park is poised to accelerate industrialisation, stimulate economic diversification, and create employment opportunities for emaSwati.
Construction of the park is expected to commence soon, with completion projected within 18 months.
The Minister also welcomed the commitment by Texray Group, whose planned investment in the park marks a significant milestone in attracting international investors to Eswatini.
Government, through the Ministry of Commerce, Industry and Trade and the Eswatini Investment Promotion Authority, has pledged full support to ensure the success of such investments.
Positioning Eswatini as an Investment Hub
In further positioning the country as a competitive investment destination, Khumalo highlighted Eswatini’s Residence by Investment programme, which is designed to attract high-value investors and boost foreign direct investment across key sectors.
Appreciation for Partners
Concluding his remarks, the Minister expressed gratitude to the Government of Taiwan, development partners, and all stakeholders involved in advancing the projects.
He noted that their continued support is instrumental in driving Eswatini’s economic transformation and long-term development goals.
