Photo: Sihle Zikalala, KZN MEC for Economic Development, Tourism and Environmental Affairs.

DURBAN - Sihle Zikalala, KZN MEC for Economic Development, Tourism and Environmental Affairs, has reassured businesses that are operating in KZN, that the province remained a sound investment destination and that they had their best interests at heart. 

Zikala spoke at the KZN Growth Coalition Breakfast this morning, where top business leaders in were in attendance. 

He said that government, working with businesses, had the crucial task of stimulating growth in the economy and ensuring stability considering the technical recession that the country faces.

“A stable macroeconomic environment remains essential in providing an environment where the private businesses can thrive. This implies that there is a need for policy certainty and sound regulations that guarantee the protection of investments by both domestic and foreign investors.” 

The MEC said government would continue to ensure the creation of an investment conducive environment and that it was important that businesses make sure that communities benefited from their operations. 

He said that government had created initiatives like Operation Vula, that was launched in June 2017, to ensure that Black majority were included in the economic mainstream of the province.

He added that while there important strides in the transformation of the economy, other people in particular women and children are still outside participants of the economic mainstream. 

According to the MEC, there are plans to boost the manufacturing and mining sectors in KwaZulu-Natal industries that would help the economy grow and provide job opportunities. 

Zikalala said that they were working on convening a manufacturing summit that would discuss plans for stimulating the manufacturing sector. 

Provinces are also working with the Department of Mineral Resources finalising preparations for a Provincial Mining Indaba which would be held later this year.