Gauteng leads in promoting investment

Wednesday, October 25, 2017

Gauteng continues to lead the rest of the country and continent in promoting intra-Africa trade and investment, says the provincial government.

“By August 2017, more than 169 Gauteng-based businesses had 365 investment projects worth R356 billion across the major regions and cities of Africa. These projects have created 45 000 jobs,” the Gauteng Provincial Government said.

Gauteng Premier David Makhura, who attended the South Africa-Italy Summit in Johannesburg, said the province’s cooperation with Italy is one of its most comprehensive twinning agreements, as it involves various departments, the City of Ekurhuleni and community organisations.

“It has now become a benchmark of all the agreements we will enter into with various governments,” Premier Makhura said on Tuesday.

The provincial government said the fourth edition of the South Africa-Italy Summit kicked off on a high note, as speakers from various sectors agreed on the importance of strengthening trade and investment relations between South Africa and Italy.

Italy is one of South Africa’s leading trading partners. The country is the fourth largest economy in the Eurozone Area.

“As bilateral trade between Italy and South Africa continues to grow, I can confirm that South African fresh produce has become a standard feature in Italian supermarkets in Italy,” said the outgoing South African Ambassador to Italy, Nomathemba Tambo.

In 2015 alone, exports from Gauteng to Italy amounted to R8.1 billion, which included products such as iron and steel, vegetables, machinery and mineral products.

Similarly, imports from Italy to Gauteng amounted to R19.1 billion, including products such as vehicles, aircraft and vessels, chemicals, plastics and rubber as well as machinery. –

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