INVESTMENT IN INFRASTRUCTURE IS IMPORTANT TO ENHANCE ECONOMIC
DEVELOPMENT – DEPUTY MINISTER MASINA
Investment in infrastructure is important to enhance economic
development, intra trade and regional integration. This was said by the Deputy
Minister of Trade and Industry, Mr Mzwandile Masina. He was speaking at the
second leg of the 6th annual India Trade and Investment
Initiative (ITI) hosted today in Kolkata, India.
Masina said it was important to emphasise that the bedrock of new growth
in the African continent will come from infrastructure development.
“The opportunity to collaborate with Indian companies will make it
possible for South Africa to realise the deliverables of the programme in
particular the North-South corridor with emphasis on road and rail
infrastructure,” he said.
Masina urged the Indian business delegation to optimally utilise the ITI
platform and give voice to key issues in the Infrastructure, agro-processing,
mining and minerals beneficiation, electro-technical, cosmetics and renewable
energy sectors represented in the twenty-five member strong business delegation
from South Africa.
“South Africa and India share a common vision in
this regard. Like South Africa, India has to address the triple challenges of
inequality, poverty and unemployment. I am of the firm view that it is through
initiatives of this nature that we will be able to address the challenges of
unemployment, advance the fight against poverty and accelerate the economic
transformation within our respective countries,” added Masina.
The Chairman of the Indian
Chamber of Commerce Mr Kalyan Kar said India’s investment in South Africa is
over $33 billion in different sectors.
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