JOHANNESBURG – Trade and Industry Minister, Ebrahim Patel on Monday welcomed the R1.2 billion investment announced by Isuzu.
"This announcement by Isuzu comes after last week’s South African Investment Conference at which investment pledges of R363 billion were made. This adds a further R1.2 billion to the what was announced last week, bringing new investment pledges made by businesses this month to just above R364 billion," said Patel.
Patel had a meeting with the senior leadership of Isuzu during a recent visit to Japan.
He said that the investment showed confidence in South Africa's economic growth potential and will help to secure more than 1 000 direct jobs at the plant.
Patel said that the South African Automotive Master Plan, which was developed in partnership between government and industry, provides a good basis for companies to plan and gives policy certainty on which investment decisions can be made.