Eastern Cape Premier Mr. Lubabalo Oscar Mabuyane has welcomed the new investment into the Province announced at the South African Investment Conference in Johannesburg today.
The announced investment includes;
• Ford Motor: R16,4bn
• South African Breweries: R920m (for Eastern Cape and KwaZulu Natal plants)
• Volkswagen: R350m
• Aspen: R500m
• Africa Auto Group: R550m
• Seraphim: R437m
• Wheel Assemblers: R180m
Ford’s new investment is in addition to its R600m investment last year.
Premier Mabuyane says “The new investments into the province is a demonstration of investors’ confidence in the province. This has come through collective efforts by the Provincial Government, business and labour”. Mabuyane continues to say that policy certainty and creating favourable political and social environment by the provincial government is yielding desirable results such as these.
The Eastern Cape Provincial Government is implementing its economic recovery plan aimed at improving economic growth and job creation prospects. The new investment is a boost to these efforts.
Before today’s announcement; the provincial government yesterday met with several investors to persuade them to invest in the province. The Premier also hosted an Economic Roundtable with provincial economists and academics last week to exchange ideas and share insights with experts to enrich government’s response to current and future economic challenges.