SADC INVESTMENT PROMOTION FORUM IN MOSCOW BOLSTERS KZN BUSINESSES
The trade and investment reach into the BRICS bloc and Africa will be intensified through a high-level business mission to the Russian Federation as endorsed by the Department of Economic Development, Tourism and Environmental Affairs (EDTEA).
Trade & Investment KwaZulu-Natal (TIKZN) which falls under EDTEA, and UThukela District Agency, are part of the delegation that will be attending the Southern African Development Community (SADC) Investment Promotion Forum in Moscow, Russia from 18 to 23 October.
This year, the SADC Embassies in Moscow will be celebrating the 38th anniversary of SADC through an Investment Promotion Forum focusing on three key sectors - energy and mining; infrastructure development; and regional industrial value chains/ SMMEs.
As part of the programme, two seminars will be hosted by TIKZN in partnership with the Embassy - one in Moscow and the other in St Petersburg - to market and showcase investment opportunities in KZN to Russian investors.
âWorking jointly with KZN companies and the Ilembe and Amajuba district municipalities, we will market opportunities for investment to potential investors within the sectors that have been identified,â said Neville Matjie, CEO at Trade & Investment KwaZulu-Natal.
âThe programme also includes one-on-one meetings with local industry players for participating businesses in this mission which is of critical importance. Our partnerships with the Embassy, business chambers and industry associations will provide links to important business information.â
The Russia Federationâs economy emerged from recession to recovery in 2017. According to Global Economic Prospects 2018, Russiaâs economy is expected to continue growing, with growth projections between 1.7 and 1.8% in 2018 - 20.
The marketing and promotion of packaged projects to investors - referred to as âimport replacementâ - is the primary area of focus for TIKZN. Successful implementation these projects is said to augur well for the SA economy:
- -Domestic employment will increase (reducing dependence on labour non-intensive industries such as raw resource extraction and export)
- -Less long-distance transportation of goods (and concomitant fuel consumption and greenhouse gas and other emissions)
In line with its mandate to promote KZN as an investment destination, TIKZN will assist 10 local KZN companies in the targeted sectors to access international markets, these are:
- -Infrastructure Development (investment into tourism projects);
- -Minerals Beneficiation - Metal Buttons and Aluminium (incl. furniture);
- -Renewable Energy and Mining;
- -Chemicals (plastics and pharmaceutical industry); and
- -Food Processing.
Matjie said the mission was an important platform for raising awareness of KZN as an attractive investment destination and the ease of doing business in the province through linkages between the respective governments and business leaders.
EDTEA is establishing industrial development hubs in each of the nine districts in the province, to serve as an important economic linkage between the Special Economic Zones identified for development, with other economic development nodes located across the province.
For more information please contact
Ms Angel Shabangu- Communication Specialist
Cell: 076 062 3779