The Ministry of Trade, Industry, and Business Development has clarified recent misinformation regarding a supposed agreement between the government of Lesotho and a Swiss company. A local newspaper had published an article last week with the headline, “Govt SIGNS 99-YEAR DEAL WITH SWISS COMPANY.” However, the Ministry has firmly denied the existence of any such agreement.
In a press conference held on Wednesday, the Minister of Trade, Industry, and Business Development, Mr. Mokhethi Shelile, addressed the inaccuracies. He emphasized that no 99-year contract had been signed with a Swiss company, as the headline suggested. According to Mr. Shelile, the confusion may have stemmed from discussions surrounding a feasibility report related to Special Economic Zones (SEZs).
Clarifying the Status of Special Economic Zones
Mr. Shelile explained that what is currently under consideration is the result of a recent validation meeting where a comprehensive feasibility report was examined. This report is critical for the establishment and future success of Special Economic Zones in Lesotho. He underlined that the SEZs initiative aims to attract investment, boost economic growth, and provide opportunities for local businesses and international investors. The Minister added that the discussions are still in a preliminary phase, focusing on viability rather than committing to any long-term contracts.
The Ministry has been working diligently to establish the foundation for SEZs, a significant step in positioning Lesotho as a competitive player in the regional economy. The validation meeting, which the Ministry organized, was part of an ongoing process to determine the best path forward for implementing SEZs effectively.
A Call for Accurate Reporting
In his address, Mr. Shelile urged the media to exercise caution when reporting on economic and trade matters that have potential impacts on national development. He emphasized that false or exaggerated information could mislead the public and investors, affecting the Ministry’s efforts to attract credible partners for economic projects.
He also encouraged journalists to verify facts with the relevant authorities before publishing articles, especially when they concern sensitive and developing matters like SEZs. By fostering transparent communication, the Ministry hopes to avoid similar misunderstandings in the future.
What’s Next for Special Economic Zones?
Looking ahead, Mr. Shelile confirmed that the Ministry would continue to assess the feasibility report on SEZs, with plans to engage various stakeholders, including international investors, to make informed decisions. He emphasized that the SEZs are a long-term strategy designed to diversify Lesotho’s economy, attract foreign direct investment, and create employment opportunities.
The Ministry remains committed to ensuring that the SEZ initiative is executed with transparency and accountability, following careful evaluation of all relevant data and potential partnerships. The process is expected to involve a series of consultations and negotiations before any final agreements are made.
While the Ministry addresses the confusion over the alleged deal, the focus remains on paving the way for sustainable economic development in Lesotho, aiming to create an environment where local businesses and foreign investors can thrive.
As the conversation around Special Economic Zones continues, the Ministry of Trade, Industry, and Business Development pledges to provide regular updates to keep the public and stakeholders informed about the progress and developments in this pivotal economic project.
