Swaziland Investment Promotion Act, 1998

The Swaziland Investment Promotion Act 1998 is organised in three chapters. Chapter I establishes the Swaziland Investment Promotion Authority (“the Authority”), it lays down its powers, functions, procedures for nomination of board members, general managers, regulating as well funds and assets. Objects if the Authority are: (a) to attract, encourage, facilitate and promote local and foreign investment in Swaziland; (b) to initiate, co-ordinate and facilitate the implementation of Government policies and strategies on investment; (c) to provide a one-stop information and support facility to local and foreign investors; (d) to advise the Minister on investment policies, strategies, proposals and suitable incentives.
Chapter II provides norms concerning protection of investment and settlement of disputes, it also establishes a general freedom of investment principle. Section 19 states that any person, whether or not a citizen of Swaziland, may freely and without restriction on ownership make an investment in any sector of the economy of Swaziland.
Chapter III establishes a series of principles aimed at facilitating investment practices (non-discrimination, prevention of corruption, etc.).