Mbabane: Foreign Minister Lin Chia-lung stated on Sunday that the ongoing construction of an oil reserve facility and the establishment of an industrial park in Eswatini are set to enhance the southern African nation's energy resilience and stimulate economic growth. Lin, currently in Eswatini to commemorate King Mswati III's 40th anniversary on the throne and his 58th birthday, shared these insights in a Facebook post after holding discussions with Eswatini officials on Saturday regarding the two projects.
According to Focus Taiwan, Taiwan's foreign ministry highlights that the Strategic Oil Reserve Facility is designed to secure a 60-day fuel reserve for Eswatini. Meanwhile, the Taiwan Industrial Innovation Park (TIIP) aims to assist Taiwanese businesses in expanding their global presence, connecting with African markets, and generating local employment opportunities. Lin noted that the briefings were attended by Eswatini's Prince Lonkhokhela, Commerce, Industry and Trade Minister Manqoba Khumalo, and Minister of Information, Communications and Technology Savannah Maziya, reflecting the Eswatini government's high expectations for these initiatives.
Lin emphasized that the construction of the Strategic Oil Reserve Facility, which commenced in January, is progressing well. The project is being executed by the Overseas Investment and Development Corp., a Taiwanese company specializing in government aid projects abroad. Moreover, Lin mentioned that around 60 Taiwanese investors have visited Eswatini to explore investment opportunities since the inception of the Taiwan Industrial Innovation Park last year, following a meeting between him and King Mswati III.
Lin also observed that several companies have already signed letters of intent to establish operations in the park. As global supply chains undergo transformation, Taiwanese firms are actively broadening their global reach. Lin further remarked on Eswatini's significance as a member of the African Continental Free Trade Area and the Southern African Customs Union, positioning it as a vital entry point for Taiwanese businesses aiming to penetrate African markets.