Royal Science and Technology Park information

Royal Science and Technology Park

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	Nokwane Biotechnology Park
Location	Matsapha, Eswatini
Region served	Eswatini
CEO	Vumile Dlamini[2]
Board of directors	TBC (Chairperson), TBC (Board Member), TBC (Board Member), TBC (Board Member), TBC (Board Member), TBC (Board Member), TBC (Board Member), Mr. 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, facilitate the links between research and industrial communities and stimulate the development of knowledge-based businesses by incubating techno-partnership and high-tech enterprises.^[3][4][1][5]

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The Royal Science and Technology Park (SEZ)

The Royal Science and Technology Park (RSTP) was designated 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 to ensure technology transfer to the Eswatini populace, and subsequently boost economic growth. The Investor Management Services Unit is responsible for operationalizing and managing 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, and which master plan comprises 159 ha for industrial development, ideally located in close proximity to import and export transport routes through the highway access to the 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 readily available for potential targeted investments. A Master Plan is in place to develop the basic infrastructure for the remaining 79ha of the industrial development land on the Phocweni side of RSTP. Underway is completing a One Stop Shop/Service Centre 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 that houses all the relevant stakeholders and 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 Licence 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.
• Aftercare 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:

• Remissions of customs duty, value-added tax and any other tax payable in respect to goods purchased for use of raw material, equipment, and 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 outsourced services, which would allow investors to focus on their core business and 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 for joint ventures, it is E70,000,000. An enterprise or investor must demonstrate its business case, the financial viability of its investment, and the socioeconomic benefits of the proposed investment. The Enterprise or investor intending to set up shall:

• Ensure decent employment for employees;
• Ensure that ninety per cent (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