 | |
| Abbreviation | RSTP |
|---|---|
| Formation | 2007[1] |
| Founder | King Mswati III |
| Type | Research and development organisation |
| Legal status | Active |
| Purpose | To be the leading oasis of science and innovative technologies for wealth creation. |
| Headquarters | Biotechnology Park |
| Location | |
Region served | Eswatini |
CEO | Vumile Dlamini[2] |
| Mr Sthofeni Ginindza, Dr Rejoice Maseko, Dr Gugu Sibandze, Mr Walter Bennet, Mrs. Simile Muwape, Vumile Dlamini (CEO) | |
| Website | www.rstp.org.sz |
The Royal Science and Technology Park (RSTP) is a Swazi public enterprise and science park created to foster the conception of inventions and facilitate their patenting and help knit various elements of the R&D cluster together. It is intended to provide a focal point for research, facilitates the links between research and industrial communities and stimulates the development of knowledge-based businesses through the incubation of techno-preneurship and high-tech enterprises.[3][4][1][5]
The Royal Science and Technology Park - SEZ
The Royal Science and Technology Park (RSTP) was designated as a Special Economic Zone through the Special Economic Zone Act of 2018. This was an initiative by His Majesty King Mswati III to attract foreign investment into the Kingdom of Eswatini, promote export-oriented growth, generate employment with the intention to ensure technology transfer to the Eswatini populace, subsequently boost economic growth. The Investor Management Services Unit is responsible for the operationalization and management of RSTP’s SEZ Industrial Plot and the One Stop Shop Service Centre (OSSSC).
Masterplan: Location and Infrastructure Development
The RSTP SEZ, manages 317.7ha of land, which master plan comprise 159 ha for industrial development ideally located in close proximity to import and export transport routes; through the highway access to Republic of South Africa and the Republic of Mozambique, dry port railway line leading to Maputo Sea Port (Republic of Mozambique) and Richards Bay Sea Port (Republic of South Africa). Currently 80ha of the industrial development land at Nokwane is serviced and is readily available for the potential targeted investments to be situated. A Master Plan is in place for the development of the basic infrastructure for the remaining 79ha of the industrial development land on the Phocweni side of RSTP. Underway is the completion of a One Stop Shop/Service Centre which is intended to ease and expedite the administrative processes and procedures of doing business in the SEZ.
One Stop Shop Service Centre
The OSSSC is an infrastructure which is to house all the relevant stakeholders that provides all the services that an investor may require when locating their investment at the SEZ. Services provided to investors through the One Stop Shop include:
- Company & Business Registration
- Trade and Business License Applications
- Income Tax and VAT registration
- Work Permits
- Entry visas
- Banking Services
- Connection of utilities e.g. power, telecommunications & water
- Provide specialist business advisory services.
- After Care Services
INCETIVES
Access to Markets:
Access to markets via The Kingdom of Eswatini Free Trade and Preferential Agreements:
- Southern African Development Community (SADC)
- Southern African Customs Union(SACU)
- Common Market for Eastern and Southern Africa (COMESA)
- SACU – EFTA (European Free Trade Area)
- SADC – EU ECONOMIC PARTNERSHIP AGREEMENT
- SACU-MERCOSUR PREFERENTIAL TRADE AGREEMENT
- African Growth and Opportunity Act(AGOA)
Fiscal and Tax:
- Exemption from corporate tax for an initial period of 20 years, thereafter a corporate tax shall be charged at a rate of 5%;
- Remissions of customs duty, Value added tax and any other tax payable in respect to goods purchased for use of raw material, equipment, machinery including all goods and services directly related to manufacturing in the zones;
- Be entitled to source-based taxation;
- Be entitled to an exemption from capital gains tax;
- Unlimited foreign exchange control
- Permitted to offshore financial services, for qualifying investors
- Be entitled to unrestricted repatriation of profits;
- Be entitled to an exemption from death duty;
Non-Fiscal:
- Be entitled to claim an allowance on constructed buildings;
- Be entitled to an allowance for research and development;
- Exemption from training levy, for an investor who has trained local employees;
- Be entitled to green technology allowance.
Royal Science & Technology Park Ecosystem:
Support Services Business Units can provide services that can be outsourced which would allow investors to focus on their core business and to reduce infrastructure and operational costs.
- National Data Centre
- Advanced School of IT
- Special Economic Zone
- Business Incubator
- Biotechnology Research Facilities
- National Contact Centre
REQUIREMENTS
The initial capital investment for a sole proprietor is E30, 000,000 and E70, 000, 000 for joint ventures. An Enterprise or investor has to demonstrate their business case, the financial viability of theire investment, as well as the socioeconomic benefits of the proposed investment. The Enterprise or investor intending to set up shall;
- Ensure decent employment for employees;
- Ensure that ninety percent (90%) of the employees are within the taxable bracket;
- Ensure that the minimum employment quota of Eswatini citizens is two thirds (2/3);
- Ensure that the localization policy is adhered to; and
- Ensure skills transfer
EARMARKED INVESTMENTS
- Information & Communications Technology (ICT)
- High- Tech Manufacturing
- Agro-processing
- Biotechnology
- Pharmaceutical
- Research and Development (R&D)
- Minerals
References
- 1 2 "RSTP – Royal Science & Technology Park".
- ↑ "BOARD MEMBERS – Royal Science & Technology Park".
- ↑ "Royal Science & Technology Park". www.gov.sz.
- ↑ "Royal Science & Technology Park, Swaziland".
- ↑ Mamabolo, Matshelane. "Taiwanese firm recommits to Swazi Tech Park construction". ITWeb Africa.
- ↑ "Eswatini minister of economic planning and development visits Taiwan | Politics | FOCUS TAIWAN - CNA ENGLISH NEWS". focustaiwan.tw. Retrieved 2019-06-07.