SOUTH AFRICA WOOS CHINESE TO INVEST IN SPECIAL ECONOMIC ZONES

SOUTH AFRICA WOOS CHINESE TO INVEST IN SPECIAL ECONOMIC ZONES

South Africa is fast becoming a centre of manufacturing excellence that offers unparalled opportunities for both foreign and domestic investors.

The Chief Director of Export Promotion and Marketing at the Department of Trade and Industry (the dti), Ms Zanele Sanni said this during the second leg of the South African Expos in China currently underway in Shenzhen.

Sanni who extended an invitation to manufacturing and advanced manufacturing companies from Shenzhen to invest in South Africa, also shared  information on the recently launched Dube Trade Port which had already attracted over R900 million from the private sector. She said the Chinese investors also had an opportunity to access the additional special support measures offered by the South African Special Economic Zones programme.

According to Sanni, South Africa is keen to learn more about the industrial parks, science and technology zones as well as the special economic zones programme from which Shenzen is enjoying phenomenal success. As one of the fastest growing cities in the world, Shenzhen generates the biggest economic returns for China.

“The Guangdong province where Shenzhen is located has transformed areas along its 4300km coastline into strategic and profitable transport hubs,” stated Sanni. She added that collaboration in this area could fast-track the South African government’s plans to exploit the latent potential of oceans economy which can contribute R177 billion to the GDP.

The Director-General of China Council for the Promotion of Investment and Trade (CCPIT) in Shenzhen, Mr Tao Yongxin told the delegates that Shenzhen in particular had a lot of interest in getting its businesspeople to invest in South Africa. He said since China and South Africa held very good political relations, the CCPIT was willing to work with the dti to ensure that there are regular activities that result in growth of trade between the two countries.

“We would like to build a more pragmatic relationship with South Africa to also get South African companies to invest in Shenzhen. We are willing to assist the South African businesses with facilitation of processes to ensure that they get credible partners from our region,” he added.

The next leg of the South African expos in China will take place in Chengdu where the export companies will participate in the 15^th Western China International Fair from 22-25 October 2014.