Cape Town - After engaging with stakeholders, the Western Cape's investment agency Wesgro has set out five ways in which investor confidence can be maintained in Cape Town and the Western Cape after SA's recent credit ratings downgrades by ratings agencies.
The five ways are:
An aligned communications plan must be established across the Western Cape to counter negative perceptions about investing the region.
Cape Town's brand as a world-class investment destination must be built through the City of Cape Town's "Invest Cape Town" initiative.
More than 70 tourism, trade and investment promotion missions abroad must be conducted by Wesgro in 2017 to sell the region as an investment destination and help local businesses to access international markets.
There must be a doubling-down on Project Khulisa, the Western Cape government’s economic strategy, to ensure policy certainty.
A new investor centre must be launched in conjunction with the InvestSA initiative of the Department of Trade and Industry, as a collaborative one-stop shop for investors into Cape Town and the Western Cape.
“While challenging, the current economic situation offers opportunities for innovative entrepreneurs. The cost of imports will increase and we’re also seeing a rise in demand for consumers wanting to know the full value chain of their products," said Western Cape Minister of Economic Opportunities Alan Winde.
"These trends provide a space for local entrepreneurs to package their products with authentic stories being the unique selling point. We know the weakening rand will also make our tourism offering and our agri-processed exports more competitive.”Read Fin24's top stories trending on Twitter: Fin24’s top stories