By Stories by King’s Office Correspondents in Taipei Taiwan
The development of Eswatini’s financial sector should be central to the country’s investment drive. This is because investment requires a highly developed financial sector that is able to facilitate the ease of trade locally, on the continent and the world at large. The call was made by His Majesty the King during a luncheon hosted in his honour by the Hun Nan Commercial Bank Vice Chairman Tom Lin yesterday.
The King extended gratitude to Hun Nan Commercial Bank for its role in supporting development in Eswatini and affording emaSwati opportunities to gain valuable experience through internships at the company.
“We have noted how your bank has been working how to see how we develop the financial sector in the kingdom. This is important for us as we are here in Taiwan to not only target manufacturing institutions but also the financial sector.
“We are in the process of establishing a strong financial sector in the kingdom and we look to this bank, which has a wealth of experience, to share their experiences as setting up banks can be complicated and competition was high,” he said.
The king expressed hope that since COVID-19 was subsiding, implementation of some the investment goals shared in the past would get underway.
He thanked the bank for inviting key business associates which included a congressman who would play an important role in supporting initiatives aimed at developing Eswatini in parliament. The King said the country was ready to welcome investors from Taiwan.
Taiwan bank’s internships for Eswatini graduates
The Vice Chairman of the Hua Nan Commercial Bank Tom Lin has committed the institution to rolling out an internship programme for students graduating in Taiwan tertiary institutions. This programme which he had announced just prior to the COVID-19 pandemic when His Majesty last visited Taiwan in 2018, would get underway. Lin said this was further motivated by the successful internship of Prince Buhlebenkhosi who graduated from the Shih Chien University in Taiwan in International Business and Trade in 2018.
He said the bank, which commemorates its 100th anniversary, intends to make this a two-to-three year programme which would make the company a gateway for graduates to gain the requisite experience for industry which would boost the skills set for the Eswatini economy.
“Our hope is to see Taiwanese trained graduates, go back to Eswatini and Africa, as representatives of Taiwan and to make Eswatini a gateway to Africa for Taiwan,” said Lin.
He further noted that Eswatini and Taiwan had a lot in common in terms of country size surrounded by powerful and bigger competitors. As a result we have to think differently and think of a strategy that is different from everybody else,” he said.
“We know that Eswatini has huge potential in the areas of banking, health care and education and we have promoted these in our meeting. We are happy to have Benkhosi back in Taiwan having been our intern and colleague in our Taiwan bank and now hopefully in our New York branch as well,” he said.
Lin said he was also of the belief that many thing will happen between the two countries. He made reference to the biblical story of David and Goliath that must prompt the two countries to differently to overcome the huge challenges they face, some of which had been brought about by the impact of the COVID-19 pandemic.
He said with this in mind, the two countries must have faith that David will win. “Once again I would like to congratulate us for being David and hopefully our faith will be to win this game. I thank you,” he concluded.
Congressman to rally Taiwan MPs for Eswatini budget support
A congressman has vouched to lobby for good financial support to Eswatini when the Taiwan parliament sits to discuss the budget allocation to the Ministry of Foreign Affairs. The sitting, according to Congressman Wang Tin-Yu was expected to take place on Tuesday (today). He made this pledge when addressing a luncheon hosted in honour of His Majesty the King, Inkhosikati LaMashwama and the Eswatini delegation yesterday, which was held at the Hua Nan Commercial Bank headquarters.
He was a guest of the Vice Chairman of the bank, Tom Lin.
“Your Majesty, in your efforts to promote the bilateral relations between the two countries as well as investment in Eswatini, rest assured that you have our 100 per cent. I have held discussions with the President (Tsai Ing-wen) and she is she really appreciates your country,” he said.
Tin-Yu described Eswatini as Taiwan’s best friend, not only in Africa but in the world. He said it was for this reason that any effort would receive their full support.
“I have discussed with my friends in the manufacturing industry to seriously consider investing in your kingdom. I have explained to them how good the investment climate is there,” he added.
During the luncheon, the Vice Chairman of the Hua Nan Commercial Bank invited the princes and princesses accompanying the King to share a few words at the gathering. They each shared their appreciation at the continued relations between the two countries over the 54 years and what they hoped to see in the years to come.
