Gauteng drives massive investments into the South African economy
PORT ELIZABETH - The Gauteng provincial government is hosting the Southern Africa-Europe CEO Dialogue (dialogue) ahead of next month's South Africa Investment Conference, as well as the Africa Investment Forum, the provincial government said in a statement on Tuesday.
In its sixth year, the summit, formerly the South Africa-Italy Summit, has expanded into the CEO dialogue and now includes business and government leaders from all over the SADC region, encouraging inclusive growth.
With unique opportunities for participants to engage directly prominent European and African CEOs, ministers and institutions, host province Gauteng has seen these conversations yield twelve key foreign direct investments (FDIs) in its economy by Italian companies chiefly in agro-processing over four years.
The statement said that public-private sector investments over the next five to seven years were worth R500million and that ultimately the province wanted to attract fifty percent (or R750 billion) of President Cyril Ramaphosa’s investment drive into the country of R1.5 trillion.
“Gauteng is positioned at the heart of the country and the continent in terms of industrial output. The province is well positioned to drive investment aimed at creating jobs and growing the economy of South Africa,” Gauteng Premier David Makhura said.
The investment drive is aligned to the Growing Gauteng Together vision 2030 to strengthen strategic partnerships with the private sector to address issues of infrastructure, unemployment and spatial transformation of the Gauteng City Region.
“We are here to remind investors that Gauteng is open for business," the premier added.
"Investors can consider agro-processing, automotive, manufacturing and the pharmaceutical industry. In the past few years, we have seen massive investments in manufacturing, with direct investment by Italian companies in a truck manufacturing plant in Rosslyn,” Makhura said.
The Gauteng provincial government remains committed to turning the province into a one economic zone, the statement said.
"In November, Premier Makhura will officiate the sod-turning of the Tshwane Automotive Special Economic Zone in Silverton, which will attract massive investments into the Gauteng economy."
African News Agency (ANA)