Tamer EI Chamaa, of Aura events, Saif Al Jaibeji, chairman of Iraq health, Trade and Investment KZN chief executive Zamo Gwala and Ahmed Sarchil Kazzaz, of Toyota in Baghdad, at the Arab African Investment Forum in Dubai. Picture: Sharika Regchand

Sharika Regchand

KwaZulu-Natal business people got to hobnob with potential investors in the United Arab Emirates last week in Dubai, showcasing projects they were involved in and wanted to embark on.

The Arab African Investment Forum, which is aimed at attracting foreign investment into South Africa, was hosted by Trade and Investment KwaZulu-Natal (TIKZN) in partnership with Aura Events International, of Dubai.

Venture capital firms, sovereign funds, banks and investment companies from across the Gulf, especially the UAE, attended the seminar.

Zamo Gwala, the chief executive of TIKZN, said reasons to invest in South Africa included that it was the gateway to a vast untapped African market, and that it had well-established infrastructure, established communications, packaging, distribution and logistics industries, proven government support for business, an availability of skills, positive returns on investment and minimum restrictions in bringing in and taking out money.

He said investment opportunities existed in tourism, infrastructure, renewable energy and automotive components.

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He added that KwaZulu-Natal boasted many advantages, such as its well-established infrastructure, a growing tourism industry and an idyllic climate, which made the province a must-visit destination for any serious investor.

Business people in the province pitched the projects they were involved in and projects in the pipeline that required investment.

Colleen Coetzee told potential investors about the planned R5 billion Thukela Livon Health and Wellness Centre project on the North Coast. The project consists of four phases, the first of which being valued at about R750 million.

“The development will be a trailblazer in high-quality health care, wellness and medical tourism, and should catalyse tourism on a broad level in the KwaZulu-Natal area together with sustainable job creation in the area,” she said.

“Clients can enjoy high-class medical care in a private and discreet environment and will have the option to have their partner’s or family’s support…

“Foreign companies will have the opportunity to invest directly in a unique property development on the North Coast.

“The area has been earmarked for development following the development of the King Shaka International Airport, the Dube TradePort and the exponential growth in the Richards Bay area.

“The idea is to target local and foreign clientele who seek a discreet and private experience for medical and cosmetic procedures, wellness and rehabilitation in a tranquil resort-type environment.”

Khanyi Gasa, chief executive of Enterprise iLembe, an economic development agency for the iLembe district municipality, said that the seminar had been informative.

“It was nice to be able to engage with other people with deep pockets… The seminar presented a good opportunity to open the door to build relationships,” she said.

Nabi Laamouri, managing director of Amara Consulting in Paris, said the projects presented had included a variety of great concepts. “There seem to be a lot of reasons why one should invest in KZN,” he said.

After the seminar, Gwala said the relationships they wanted to build with the foreign investors could not be achieved in one visit.

“You don’t come once and hope that people will just buy into your idea or project,” he said. “For everything to be successful we need to make follow-ups and convince the people whom we met to visit KZN and see these projects for themselves. We need to nurture the relationship to a point where some of these projects are successfully completed.”