Foreword
The past year was a very special one for Swaziland. In September we marked a double celebration to commemorate the 40th birthday of His Majesty King Mswati III and the 40th anniversary of Independence. Dubbed the 40/40 Celebrations, this enabled us to reflect on our achievements over the past four decades and on what may he achieved in future. Shortly after this, elections were held where the nation voted for its choice of parliamentary representatives and His Majesty announced the new Prime Minister and Cabinet Ministers. All this took place against a background of global uncertainty and economic recession – one where not only developing countries but also first world powers are feeling the impact of prevailing adverse trends. According to the World Economic Outlook, global growth was projected to fall from 4.9% to 3.7%. The recorded economic growth for Swaziland in 2007 showed a small increase from 1.8% to 2.9% and it is encouraging to note that, despite the global situation, growth for 2008 is estimated at 3.5%. This is a step towards our goal of achieving growth in excess of 5%. Promoting foreign investment and growing the Small and Medium Enterprise (SME) sector remains the cornerstone of Government’s commitment, jointly with the provision of quality services to investors. Several programs are in place for SMEs, including the dedicated Unit within my Ministry. The Swaziland Investment Promotion Authority and other development agencies continue to successfully focus on attracting new investors, who we can assure of a peaceful and beautiful environment, together with all the facilities and infrastructure they need. Swaziland is committed to the free e n t e r p r i s e principle, giving i n v e s t o r s confidence and freedom in undertaking their business. These efforts are enhanced with several enabling trade agreements that are in place, coupled with an extremely high standard of infrastructure. In this context, the highway between the Ngwenya border with South Africa and Mbabane was completed and the link to the Malagwane Hill to enable through traffic to bypass the city is at an advanced stage. Work on the new international airport at Sikhuphe, as well as on other Millennium Projects such as the Sports Centre and Soccer Stadium in Manzini is progressing well, as is the major Jozini Big Six tourism investment. Thus we are well placed to take advantage of the influx of visitors to the region for the 2010 FIFA World Cup. Finally, let me take the opportunity of commending our Swaziland Business Year Book on its continued success, which is evident in the number of investment agencies which utilise it as a promotional platform for the country and the many companies that consider it an ideal medium through which to publicise their operations. And so I wish everyone involved with Swaziland and peaceful and successful year for 2009.
Senator Jabulile Mashwama
Minister for Commerce, Industry & Trade