Posted: February 16, 2022
The Deputy Minister of Trade, Industry and Competition, Ms Nomalungelo Gina says Richards Bay needs to be positioned as an attractive investment destination by building friendly relations with businesses that have already invested in the City. Gina was speaking today at the inaugural Business Expo 2020 organised by the City of uMhlathuze and the Richards Bay Industrial Development (RBIDZ).
“We need an aggressive strategy to attract more investors to see this city as a city of choice for doing business. This means cutting off the red tape for companies wanting to settle here. Investors are interested in getting a clear municipality investment plans and its growth plan. This means a clear expansion plan in the immediate, medium and long term in order for them to invest,” said Gina.
She urged the local government to use the business expo to start communicating a clear message to businesses with regard to the future plans of the city and persuade them to invest, and to attract the new ones.
“We plead to the potential investors to engage with the municipality for settling here in this region. We also plead with Zululand Chamber of Commerce to strengthen their working relationship with the government and to stimulate investment to this region, beyond just minerals. In this regard, there is a real and immense role that the municipality in particular, and government in general, has to play in spearheading growth and job-creation,” she added.
Gina also said the dtic always encouraged business engagements and networking sessions because they facilitate trust between government policy makers, the business community, and potential investors.
“We are proud that our Industrial Development Zone (IDZ) here in Richards Bay is a critical catalyst for bringing some significant investments. We have seen their investment attraction drive resulting in large companies settling in the Richards Bay IDZ. During the 2019/2020 financial year, the Richards Bay IDZ attracted more than R6 billion worth of investments.
According to Gina, the role that the IDZ plays in driving investments the zone must not cause the municipality to surrender its own responsibility of attracting companies, not only for Richards Bay but for the UMhlathuze City as a whole.
Businesses attending the expo will be able to interact with captains of industry, and participate in the information-sharing sessions between small, medium, and large businesses and government entities.
Bongani Lukhele – Director: Media Relations
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