Durban - KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs, Sihle Zikalala, today revealed that more than R200 billion will be pumped into the province’s economy in the next few years, thanks to the portfolio of investment opportunities.
Addressing captains of industry during the investment seminar held in Durban, Zikalala said KZNl had packaged a list of 25 projects worth more than R200 billion as part of contribution to the national investment drive launched by President Cyril Ramaphosa recently.
“All these projects, development sites have already been secured and are in the process of implementation, including the acquisition of funding and undertaking of feasibility studies,” he said.
Zikalala said the opportunities cover a range of sectors from agro-processing, film and media productions, manufacturing, logistics, medical, property development and tourism, he added. The MEC said the projects would benefit people in all corners of the province.
“We are excited that the investment opportunities which we have unveiled today will create 800 000 temporary jobs during the construction and development phase of the projects and a further 410 000 permanent jobs in the short to long term,” he said.
The investments were spread across the province including KwaDukuza, eThekwini, Mandeni, uMuziwabantu and uMhlathuze municipalities, confirmed Zikalala.
KwaZulu-Natal will conduct an annual review of the opportunities to assess progress on implementation and as well as add on new developments.
The list of investment opportunities were handed over to Phumzile Langeni, the special investment envoy to the president.
Zikalala said they will be combined with those of other provinces in a bucket of initiatives which will help South Africa to achieve its target of securing 100 billion US He added that the list of investment opportunities had been compiled at a time when there is growing enthusiasm for local and international companies to invest in the province.
KZN has two special economic zones that has attracted billions of Rands worth of investment with the potential to create hundreds of jobs.
“The Dube Trade Port is commencing with Phase Two which will create more industrial space for investors as Phase One is already fully occupied. At the same time the Richards Bay Industrial Development Zone is playing a crucial role in investment attraction,” he said.
Speaking during the seminar, Langeni said KwaZulu-Natal’s projects would help the central government to achieve its target of attracting $100 billion worth of investments into the South African economy in the next five years.
“We commend the province for responding positively to the President’s call to put more efforts in attracting investments so that we can grow the economy and create jobs. We are happy that the projects that have been unveiled today will create thousands of jobs,” Langa said.