Metro committed to attracting investors

Tags

---

01-08-2024
Read : 151 times
Pretoria Rekord
Source

The metro attracted an investment to the tune of R5.6-billion in the 2023/24 financial year which led to the creation of around 2 770 direct and indirect employment opportunities.

Tshwane remains committed to attracting new investment, stimulating re-investment in the manufacturing, automotive, real estate, food and beverage and metal industries, and creating sustainable employment opportunities.

This follows after the metro facilitated a R5.6 billion investment in the 2023/24 financial year that led to creation of jobs in the construction and manufacturing (automotive) industries.

The investment created employment prospects in the construction industry, which are for low to skilled jobs.
The automotive industry facilitated high skill jobs.

MMC for Economic Development and Spatial Planning Hannes Coetzee said this investment led to the creation of around 2 770 direct and indirect employment opportunities.

“Though the city’s investment pipeline reflects attractive investment opportunities in various economic sectors and industries, the investments facilitated were from the automotive, construction and development industries.”

Coetzee said these investments have taken place in the private sector.

“At a macro-economic level, the investment adds to capital formation and contributes to the country and city’s gross domestic product (GDP), gross value added (GVA), economic growth and employment creation. At an industry level, it enhances the competitiveness of the respective industries through the introduction of new technology, increased operational capacity and skills development and enhancement.”

He said Tshwane offers lucrative investment opportunities in traditional economic sectors and industries such as manufacturing (automotive, transport and related components, aerospace and defense, food and beverage and metal industries), agri-business, global business services, real estate and construction.

“Transport and logistics, including warehousing, is also a very fast growing industry in Tshwane offering lucrative opportunities. There are also good prospects for investment in the research and development and renewable energy industries, specifically within the context of the circular economy,” Coetzee said.

He said the growing importance of these industries in Tshwane cannot be underestimated given their respective cumulative capex investment values.

Coetzee said the city is open for business and ready to serve the business and investor community.

“This is evidenced by recent investment announcements from multinational original equipment manufacturers, the construction of a manufacturing plant as well as the city’s leading property developers, and the construction of an international data centre.”

Coetzee said the city commends its domestic and foreign business community for remaining resilient through difficult economic conditions.

“Their resilience has contributed to the achievement of Tshwane’s industrialisation and localisation objectives as well as employing cleaner production systems and their continued loyalty, commitment and confidence in South Africa’s future as well as the resilience of Tshwane’s economy.”

He said the city remains committed to attracting new investment, stimulating re-investment and creating sustainable employment opportunities.

“Our current and future initiatives, driven in conjunction with internal departments and relevant national and provincial government departments, place great emphasis on the creation of a conducive business and investment environment.”

He added that to this end, Tshwane is proud to announce the recent implementation of an upgraded investment portal.

The portal provides investors and developers an improved online experience relating to document submission on the eTshwane platform.

He further said the city was in its final stages of introducing a dedicated and prioritised customer relationship management service request-logging and escalation process for strategic investors, focusing specifically on improving municipal service delivery.