Projects to boost KZN

2018-10-15 15:50
Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala on Friday showed captains of industry and other stakeholders the booklet of investment opportunities that the province had prepared to assist the R100 billion, five-year investment drive launched by President Cyril Ramaphosa recently.

Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala on Friday showed captains of industry and other stakeholders the booklet of investment opportunities that the province had prepared to assist the R100 billion, five-year investment drive launched by President Cyril Ramaphosa recently. (Edward West)

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KwaZulu-Natal is expected to benefit from a more than R200 billion investment over five years thanks to a portfolio of investment opportunities unwrapped by the provincial authorities.

MEC for Economic Development, Tourism and Environmental Affairs Sihle Zikalala said on Friday the province had packaged a list of 25 projects worth more than R200 billion as its contribution to the R100 billion, five-year 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.

The opportunities cover sectors from agro-processing, film and media productions, manufacturing, logistics, medical, property development and tourism.

The investment opportunities are expected to create 800 000 temporary jobs during construction and 410 000 permanent jobs in the longer term.

The investments are spread across the province including KwaDukuza, eThekwini, Mandeni, uMuziwabantu and uMhlathuze municipalities.

None of the 25 projects is based in or near Msunduzi Municipality, which is the capital city of the province.

The projects are contained in a booklet that was handed to member of the Special Presidential Envoy on Investment, Phumzile Langeni. The KZN projects will be combined with those of other provinces in a basket of initiatives to help lure foreign and local investors to participate and invest in South Africa.

Zikalala said the list of investment opportunities had been compiled at a time of growing enthusiasm by local and international companies to invest in the province — KwaZulu-Natal’s two special economic zones had already attracted billions of rands of investments that would create hundreds of jobs.

eThekwini Mayor Zandile Gumede said the city had established a new investment unit to attract and maintain investment in the city.

She said the unit would seek investments not only from foreign companies, but also locally, particularly in trying to get big local corporates to base their head offices in Durban.

She said there would be zero tolerance for people or organisations that disrupted and destroyed private and government projects that were under way.

“There will be stability,” she said.

Read more on:    pietermaritzburg  |  economic development

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