Swaziland-Malaysia Business Forum, Kuala Lumpur, 22 June 2011

The High Commission of the Kingdom of Swaziland in Malaysia organised a business forum with the theme “The Kingdom of Swaziland – An Ideal Place for Doing Business” on 22 June 2011 at the JW Marriott Hotel, Kuala Lumpur.

This business forum was held in conjunction with the visit of a business delegation from Swaziland led by H.E. Senator Jabulile Mashwama, Hon. Minister of Commerce, Industry and Trade of Swaziland together with officials from the Ministry of Commerce, Industry and Trade, experts from Swaziland Investment Promotion Authority (SIPA) and CEO of Swaziland Small Enterprise Development to Malaysia from 17 to 22 June 2011. The aim of this business forum was to inform the business communities in Malaysia on the investment and trade opportunities available in the Kingdom of Swaziland and to promote and enhance the bilateral economic cooperation between Swaziland and Malaysia.

The forum was officiated by the Hon. Prime Minister of the Kingdom of Swaziland, H.E. Dr. Barnabas S. Dlamini. MASSA was represented by its Vice-President, Tan Sri Dato’ Michael Chen Wing Sum who gave a speech at the forum. Also present were H.E. Senator Jabulile Mashwama, Hon. Minister of Commerce, Industry and Trade of Swaziland and H.E. Mpumelelo J.N. Hlope, High Commissioner of the Kingdom of Swaziland to Malaysia. Officials from the Swaziland Investment Promotion Authority (SIPA) gave a presentation on Swaziland’s Business Environment and Investment opportunities.

Swaziland is situated in south-eastern Africa and comprises a land area of 17,364 sq km. It has made enormous economic progress over the last 20 years, largely from foreign direct investment (FDI) in mining, agribusiness, tourism and manufacturing. Its economy is fairly diversified with agriculture, forestry and mining accounting for about 8.2% of GDP and manufacturing (textiles and sugar-related processing) representing 42% of GDP. The Swaziland Investment Promotion Authority (SIPA) promotes and facilitates FDI and local investment.

Often referred to as the Switzerland of Africa, the country is host to a number of multinational corporations like the Coca Cola Concentrate factory, YKK Africa and Cadbury. One of the world’s Top 5 low cost sugar producers, Swaziland also cans fruit for major retailers such as Delmonte, Marks & Spencer and Tesco.

Investment opportunities are available in the following sectors:

• Agriculture: Cultivation of vegetables for local and export markets; processing of farm produce e.g. vegetable drying, frozen vegetables, tomato sauce production, peanut butter production, processed meat, dairy products, cassava processing and starch, tobacco growing, aquaculture, floriculture and cotton.
• Manufacturing: Accounts for around 65% of total FDI and provides jobs for about 26% of the workforce. Key areas for investment include engineering, steel, refrigeration and assembly, electronic components, automobile spare parts, processing of hides and skins (leather goods and footwear), pharmaceuticals, biotechnology, furniture and other related manufacturing, food, confectionery and beverage manufacturing.
• Mining of asbestos, coal, quarried stone, soapstone, kaolin, talc, silica, green chert and others.
• Tourism: Development of golf estates, casino and supporting facilities as well as holiday housing estates for foreign holidaymakers.
• Textile and garment production plus footwear manufacturing.

Investing in Swaziland is easy with the availability of industrial estates, land for business site development, road and rail transport infrastructure, energy, water, telecommunications and high-speed internet connections. Through various strategic agreements, Swaziland has access to markets such as Southern African Customs Union (SACU) which is a market of more than 40 million people, Southern African Development Community Free Trade Area (SADC FTA) comprising 14 African economies, Common Market for Eastern and Southern Africa (COMESA FTA) involving 19 member countries and more than 400 million people, Africa Growth & Opportunities Act (AGOA) which enables Swaziland’s exports to USA to enjoy duty-free and quota free access, as well as Economic Partnership Agreement with EU (EPA).

MASSA 20th Annual General Meeting, 29 June 2011

MASSA held its 20th Annual General Meeting (AGM) at Restoran Seri Melayu, Jalan Conlay, Kuala Lumpur, chaired by Tan Sri Azman Hashim, President of MASSA.

Courtesy Call on President of MASSA by Ambassador of Argentina to Malaysia,
22 July 2011

H.E. Maria Isabel Rendon, Ambassador of Argentina to Malaysia, made a courtesy call on Tan Sri Azman Hashim, President of MASSA at his office.

Her Excellency joined the Foreign Service of the Argentine Republic in 1978 and was appointed the Ambassador of Argentina to Malaysia in 2009. The discussion focused on ways to improve bilateral business ties between Malaysia and Argentina as Argentina offers investors sound fundamentals for sustainable growth and attractive business profitability including a globally and regionally integrated economy that is diversified to meet global market needs, highly skilled, innovative and talented human resources, abundant and diverse natural resources, modern infrastructure and quality connectivity, a vibrant culture, remarkable quality of life and a public sector that is highly supportive of investment.

Visitors from Vietnam, 30 July to 1 August 2011

H.E. Mr Nguyen Van Chi, accompanied by his wife, Madame Tran Thi Thuy, visited Malaysia on 30 July 2011. H.E. Mr Nguyen Van Chi is a former Member of the Politburo, Secretary of the Central Committee of the Party, former Chairman of the Central Inspection Committee of Vietnam and former Party Committee Secretary of Quang Nam, Danang, Vietnam. Madame Tran Thi Thuy is the Chairwoman of the Vietnam Women Entrepreneurs Council, Vietnam Chamber of Commerce and Industry, Vietnam. In conjunction with their visit, Tan Sri Dato’ Michael Chen Wing Sum, Chairman of MASSDA Land Company Limited and Vice-President of MASSA, hosted a dinner for the delegation on 31 July 2011 at the Grand Millennium Hotel, Kuala Lumpur.