KwaZulu-Natal strengthens ties with US trade and investment delegation
2018-04-20 11:00:00
Trade & Investment KwaZulu-Natal (TIKZN)
successfully hosted a high profiled 15-strong business delegation from Illinois
led by US civil rights activist Rev. Jesse Jackson in Sandton on Tuesday, 17
April 2018.
The event hosted by TIKZN Board Chairperson Ina
Cronjé and Acting Chief Executive Neville Matjie was an opportunity to promote
business and investment in KwaZulu-Natal and show case the TIKZNâs service
offering.
The US delegation included corporate companies,
financial intermediaries and bankers and international promoters
Outlining the role of TIKZN Matjie said their
mandate was to attract foreign direct investment which will build businesses
that will aid in creating job opportunities, help curb social ills such as
poverty, illiteracy and lack of dignified shelter. âUnemployment prevents
people from creating a livelihood for themselves and their families.â
âThe purpose of this networking function is to highlight
real economic opportunities, our economic strengths and to discover how we can
access opportunities that create linkages with the core US market. This is
important for us,â said Matjie.
TIKZN Board Chairperson Ina Cronjé underscored eventâs
importance in creating awareness of projects and investment and trade
opportunities.
âThe successful marketing and
promotion of KwaZulu-Natal through this event, I believe will encourage closer
linkages with the United States, through Reverend Jesse Jackson, for companies
to take advantage of the opportunities which will lead heightened economic
activity which will improve South Africaâs economy,â she said.
Cronjé said it was argued that companies based
in emerging markets would play an increasingly prominent role in global and cross
border business. Much of this will be due to the future expansion of trade an investment
between developing countries and not between developed and developing
countries.
Looking at KZNâs top 15 export markets Cronjé pointed out that the US has accounted for the lionâs share
of the exports and had been a top export partner for several years. Japan was
KZNâs second most important trade partner focused on the automotive sector.
Zambia and Zimbabwe in SADC and Algeria in North Africa were also amongst the
top 15. But it was the Southern African Customs Union that was the most
important growing exponentially in recent years.
Cronje took the opportunity to
highlight the provinceâs competitive advantages. It was continuously
implementing intelligent transport systems; has two major African seaports-
Durban and Richardsâs bay - complemented by the King Shaka International
Airport, Dube Trade Port IDZ with freight handling capabilities and the
Richards Bay IDZ; a world class banking system; prime industrial land along the
coast and inland. The province had a strong innovative ICT sector which that would
ensure KZN could leapfrog stages of development.
There were immense prospects for
power generation companies particularly those looking at green technologies to
establish themselves in the province, she said.
âThe province is positioning
itself to take advantage of the opportunities presented by moving toward a
green economy. The growth and
development of KZN require that the province becomes more self-sufficient in
its electricity production as well as its use of alternative and renewable
resources.
âIt has some of the highest hydro-electrical
potential in SA due to the velocity of water flow in its rivers as well as the
Drakensberg escarpment providing the best locality. Wind, solar and biomass
generation have also shown potential here and could further be explored,â she
said.
Rev Jesse Jackson told the
business breakfast that blacks are free but not equal as they were still not
economically free in South Africa. âToday we are free but not equal. Today we
can vote; today we have a black president, but we are not free economically.â
He said
black South Africans would not be equal until they commanded a greater share of
the economy. While separation by race
has been destroyed there was now separation by access to resources.
The access
to capital remained a huge stumbling block for economic freedom for the
majority of the population which needed to leverage its consumer strength to
open up the value chains of the private sector, said Jackson.
ENDS,
Issued by Angel Sibisi-
Communication Specialist on 031 368 9667 or email angel@tikzn.co.za