Deputy Minister Magwanishe concludes visit to US

The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe has returned to South Africa following his visit to the United States of America where he participated at the 22nd Annual Wall Street Project Economic Summit in New York from 20 – 22 February 2019.  The theme for the Summit was “400 Years Later: Closing the Wealth Gap, Expanding Opportunity”. The event focussed on how to expand wealth opportunities; supplier diversity opportunities; and diversity and inclusion for minorities and women.

Speaking at the Summit, Deputy Minister Magwanishe said Black Industrialists program is one of government’s instruments to encourage inclusive growth across all spectrums.

“Our Black Industrialists program, is deliberate in the advocacy of black participation, in the mainstream economy. Through this, the Black Industrialists incentive supports companies, pursuing productive sectors of the economy. As we contest for liberty and economic empowerment, the South African government, has channeled its mandate towards, developing black pioneers; engaged in industrial sectors. As a champion of the program, we actively engage, partnerships that empower black entities. I therefore urge minority groups, women and youth; to leverage on the opportunities available,” said Magwanishe.

Magwanishe said that through InvestSA, government offers to make investments in South Africa, as seamless as possible and to eliminate any regulatory burdens involved.

“The Invest SA, a One-Stop Shop service, is geared towards providing investors with services to fast-track projects, further assisting them with information, facilitation and aftercare. Thus, through the One Stop Shop; government aims to reduce red tape in areas concerning: Business registration, Taxation, Licenses, Visa and Permit applications, and other applicable services”, added Magwanishe.

The Deputy Minister of Labour iNkosi Phatekile Holomisa, who also attended the Summit, said that economic stimulus and recovery plan that government announced last month aims to restore growth, save existing jobs and create new ones.

“As part of this plan, we are taking immediate steps to finalise reforms in key sectors like mining, oil and gas, tourism and telecommunications – all of which are sectors that have great potential for growth and employment creation,” said Holomisa.

Magwanishe stated that South Africa will be welcoming an International Trade Mission from the United States, in the month of August 2019.

The South African government is ready to provide assistance, in making the Mission a success; as it happened 25 years ago, when President Mandela and Senator Ted Kennedy coordinated the same mission. In advancing these missions, we stand on the shoulders of Madiba, who believed that a “winner is a dreamer who never gives up”, said Magwanishe.

He said that he is convinced that the Mission will equally foster strong relations and partnerships, between entrepreneurs in both countries.

FROM RIGHT- Deputy Minister Magwanishe, Congresswoman Ms Maxine Waters, Reverend Jesse Jackson, Deputy Minister Holomisa, and the spouse of Deputy Minister Holomisa

Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
Issued by: The Department of Trade and Industry
Follow us on Twitter: @the_dti

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