TRANSFORMING OF THE SOUTH AFRICAN ECONOMY WILL PRODUCE MORE JOBS

TRANSFORMING OF THE SOUTH AFRICAN ECONOMY WILL PRODUCE MORE JOBS

The manner in which South Africa needs to transform and industrialise the economy will address issues of job creation, empowerment and inclusive growth. This was said by the Deputy Minister of Trade and Industry, Mr Mzwandile Masina at an investment seminar in Shanghai, China where he is leading a delegation of fifty nine South African businesspeople on the fourth leg of the South African Expos in China..

“We are creating an economy that is about a methodical expansion of our industrial base through value addition from which employment opportunities will be created and sustainable economic growth could be realised.

“Chinese companies are invited to partner with and invest in local companies to beneficiate the raw material before they export them,” said Masina.

Masina told the potential Chinese investors that the manufacturing sector which is a central pillar of the industrialisation programme was one area that offers vast opportunities for them. He added that the South African government had committed R800 billion to infrastructure development for the next three years focusing on rail, roads, energy, water, sanitation and the communication sectors throughout the country.

Masina, who described China as a strategic partner to South Africa that could contribute greatly to the industrialisation and modernisation of the economy added that investing in South Africa was advantageous because of the policy environment that incentivises investments.

Masina earlier in the day officially opened the South Africa Expos where South African products and services being showcased to the Chinese market. He also met with potential investors before visiting the Shanghai Free Trade Zone and Shanghai Zhangjiang Hi-Tech Park today.

Caption: Deputy Minister of Trade and Industry, Mr Mzwandile Masina at an investment seminar in Shanghai.