InvestSA to open its doors in Free State

Friday, November 24, 2017

The Free State province is set to get its own InvestSA One Stop Shop soon.

Speaking at a gala dinner hosted by the Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs in Parys on Thursday, Deputy Minister of Trade and Industry Bulelani Magwanishe said establishment of the Invest SA office will help to attract more investors to the province.

“As national government, we have made it our priority to make South Africa a destination of choice for foreign direct investments. This is part of our strategy to grow the economy, increase industrialisation and create much-needed job opportunities.

“In order to achieve this objective, Invest South Africa, a division at the Department of Trade and Industry (dti), was created with the specific mandate of attracting and facilitating investments into the country.

“We are in the process of rolling out Invest SA One Stop Shops in the provinces and we are working with the Free State government to establish an InvestSA One Stop Shop before the end of 2019,” said Deputy Minister Magwanishe.

The Deputy Minister said the One Stop Shops are the focal point of contact in government for all investors to coordinate and facilitate with the relevant government departments involved in regulatory, registration, permits and licensing.

Officials from government and its agencies housed under one roof in an OSS provide specialist advisory and intergovernmental coordination that result in the reduction of red tape in government.

“The One Stop Shops will significantly shorten and simplify administrative procedures and guidelines for the issuance of business approvals, permits and licences and thereby remove bottlenecks faced by investors in establishing and running business,” Deputy Minister Magwanishe said.

President Jacob Zuma launched the country’s third InvestSA OSS in KwaZulu-Natal last week Saturday.

Addressing the launch, President Jacob Zuma said investment promotion is critical for the economy.

“We look upon new or expanding businesses to contribute to much-needed job creation for our people. For us to be able to draw in new investments, we need to create a conducive environment.

“It is for this reason that the One Stop Shop InvestSA Centres are being established,” said the President.

Deputy Minister Magwanishe said to further increase South Africa’s attractiveness as an investment destination, the dti has launched the Special Economic Zones (SEZ) Programme.

“Among other benefits, the SEZ Programme offers unparalleled opportunities for investment and mutually beneficial partnerships to advance Africa’s industrialisation agenda. The programme comes with a package of support measures geared towards accelerating industrialisation and the development of new industrial hubs. Part of developing an industrial economy government is committed to a coordinated strategy to boost intra-African and global trade,” said the Deputy Minister.

Black Industrialists Programme

Deputy Minister Magwanishe also referred to the Black Industrialists Programme, saying it was aimed at integrating black industrialists into the mainstream of economy by offering an entrance into strategic and targeted manufacturing sectors and value-chains.

“The Black Industrialists Programme supports government’s broad industrialisation initiative to expand the country’s industrial base and inject new entrepreneurial dynamism into the economy. To date, 60 black industrialists have benefited from the programme.”

 The dti has made a commitment to support 100 black industrialists by March 2018. – SAnews.gov.za

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