Taiwan Allocates NT$1 Billion for Industrial Park in Eswatini

Taipei: Taiwan's government has proposed allocating NT$1 billion (US$31.6 million) to establish an innovative industrial park in Eswatini. This initiative aims to support industrial upgrading and economic transformation in its sole African ally while assisting Taiwanese businesses in expanding their global presence. According to Focus Taiwan, the Ministry of Foreign Affairs (MOFA) included this proposal in its fiscal 2027 budget, which was submitted to lawmakers for review last week. The ministry has proposed a total budget of NT$43.41 billion, marking an increase of more than NT$3.8 billion from the current fiscal year. Within this budget, NT$1 billion is earmarked for the Taiwan Industrial Innovation Park (TIIP) project in Eswatini. The TIIP project is anticipated to attract more Taiwanese businesses to invest in Eswatini, thereby helping them "further expand their presence in the African market," as stated in MOFA's budget proposal. The project aims to create local jobs, foster industrial clustering and hub development, and bolster the allied nation's prosperity, thereby consolidating diplomatic ties. The budget proposal is currently awaiting lawmakers' approval. Both President Lai Ching-te and Foreign Minister Lin Chia-lung have visited the planned site for the first phase of the TIIP project, located in Phocweni, Eswatini. The site spans approximately 158 hectares and is adjacent to the Royal Science and Technology Park. During his state visit to Eswatini in May, President Lai inspected the planned TIIP site and emphasized Eswatini's role as a steadfast ally of Taiwan in Africa, as well as an important gateway for Taiwanese enterprises seeking to enter the African market. He expressed hopes for deeper economic and trade cooperation with Eswatini through the TIIP, which would attract more Taiwanese enterprises, cultivate local talent, create jobs, integrate local businesses into global supply chains, and enhance Eswatini's national economic resilience. According to MOFA, since the launch of the TIIP proj ect last April, around 60 Taiwanese companies have visited Eswatini to explore investment opportunities. Among them, 10 companies in key sectors such as textiles, packaging, pharmaceuticals, and solar power have signed letters of intent to move into the TIIP in the future.