Industrial Policy Ambition Paper for Swaziland
Swaziland Industrial Development Policy -An Ambition Paper Submitted to the Southern African Customs Union (SACU) for development of SACU Industrial Policy Framework
1. INTRODUCTION
The growth of the Swaziland economy is to a large extent dependant on the performance of the manufacturing sector which accounts for approximately more than 35 per cent percent of Gross Domestic Product. It is a commonly shared view that industrial development is an engine for economic growth and development. In Swaziland industrial production is heavily concentrated in a few and the bulk of exports are controlled by a handful of companies.
Developments in the international arena have posed a serious challenge to our ability to develop the industrial sector due to increase in competition for investments, trade liberalization and the global economic crisis. Several initiatives undertaken to support the industrial development have been undermined largely by lack of a policy that will provide a planned guiding framework. Therefore, to meet the challenges presented by the developments in the international arena, there is urgent need to formulate an appropriate and effective National Industrial Development Policy and Strategy whose objective will be to set the course for diversification and reinvigorated growth of the industrial sector of Swaziland.
2. VISION FOR INDUSTRIAL DEVELOPMENT
Swaziland’s goal of industrialization is derived from the National Development Strategy (NDS). The NDS recognizes the significance to diversify away from agriculture into industry and services, as well as from the narrow range of non-agricultural activities into broader spectrum, in order to improve and reduce the overall economic risk, raise the degree of resilience in the economy and raise the capability of the economy to sustain its operations. Identifying feasible areas for industrial development is viewed imperative. Maximization of value added on agricultural and mining products,
1. INTRODUCTION
The growth of the Swaziland economy is to a large extent dependant on the performance of the manufacturing sector which accounts for approximately more than 35 per cent percent of Gross Domestic Product. It is a commonly shared view that industrial development is an engine for economic growth and development. In Swaziland industrial production is heavily concentrated in a few and the bulk of exports are controlled by a handful of companies.
Developments in the international arena have posed a serious challenge to our ability to develop the industrial sector due to increase in competition for investments, trade liberalization and the global economic crisis. Several initiatives undertaken to support the industrial development have been undermined largely by lack of a policy that will provide a planned guiding framework. Therefore, to meet the challenges presented by the developments in the international arena, there is urgent need to formulate an appropriate and effective National Industrial Development Policy and Strategy whose objective will be to set the course for diversification and reinvigorated growth of the industrial sector of Swaziland.
2. VISION FOR INDUSTRIAL DEVELOPMENT
Swaziland’s goal of industrialization is derived from the National Development Strategy (NDS). The NDS recognizes the significance to diversify away from agriculture into industry and services, as well as from the narrow range of non-agricultural activities into broader spectrum, in order to improve and reduce the overall economic risk, raise the degree of resilience in the economy and raise the capability of the economy to sustain its operations. Identifying feasible areas for industrial development is viewed imperative. Maximization of value added on agricultural and mining products,