Page 4 - KZN Business Sense 3.4

KZN

KwaZulu-Natal
Business Chambers Council
COUNCIL APPROVES DURBAN INVESTMENT PROMOTION

STRATEGY TO BOOST ECONOMY

T broad-based empowerment and Municipality, introduce new environment. welcomed the ‘step-change’ move
he eekwini’s new
which is earmarked to ultimately
local partnerships.
Investment Promotion
technologies and innovative
Strategy and
economic challenges of
and enhance skills development.
strategy ‘Invest Durban’ was
Implementation Plan which was Russell Curtis from Invest processes to the local economy, As parts of the newly adopted address the three structural
approved by the Full Council Durban, the Unit to be responsible introduced as the new refreshed unemployment, poverty and
sitting on 1 August is set to take for implementation, said aer Of primary importance, it will investment promotion brand for inequality.
the City’s international investment attracting prospective foreign ensure that we collectively boost the Unit being formed within
attraction and retention plans to investors to the City, the strategy investment, create meaningful Sithole’s Cluster of Economic Mayor Zandile Gumede said
greater heights. will oer enhanced investment new jobs and stimulate value Development and Planning. investment has been identied as
facilitation support, plus material chains via enterprise supplier the cornerstone of economic
In co-craing the strategy with incentives to accelerate the development. “e refreshed brand name is an growth, adding that while
the Council, Acting DCM Phillip processes. implementation of the World eekwini has successfully
Sithole said the plan aims to “is is expected to generate up Bank’s recommendations as our attracted investment before, this
facilitate sustainable investment in Curtis said the strategy is to R3 billion in new investment global competitors are well process was necessary to gain
Durban for the benet of all aligned to the Council-adopted and accelerate employment branded, such as Invest global best practise to retain the
through expansion, retention and eekwini Economic creation of up to 3 300 permanent Macedonia, Invest Hong Kong and existing, and lure more foreign
aercare of the existing Development and Job Creation jobs within a ve-year period of Investing in Singapore. eekwini investment.
multinational investors, plus a Strategy which highlights a implementation. It will generate is now delivering according to a
targeted attraction of signicant ‘step-change’ for the attraction of new businesses, promote more innovative, modern, easily “We remain rmly committed
new FDI (Foreign Direct foreign direct investment as a key economic transformation and identied and global standard,” and support all activities aimed at
Investment). pillar in Durban’s future. strengthen local value-chains in Sithole said. driving inclusive growth and job
key economic sectors,” said creation, which will be delivered
He said it also entails proactively Mr Sithole said the City was Sithole. Curtis said there will be by our newly approved investment
marketing the City’s large guided by National Treasury, with preparations with the City promotion strategy,” added the
investment projects, infrastructure expert support from the World He added that implementation Manager and the Mayor’s Suite. Mayor.
development and core growth Bank Group throughout the will now get underway with a e Mayor to publicly launch this
strategies to better position process of developing the new broader and more direct milestone development to
Durban as one of the most investment practise in order to partnership with global and local industry’s role players,
preferred African investment ensure more optimal delivery of business leadership being formed, stakeholders and the public by the
destinations. investment promotion for the known as ‘Team Durban’. is will end of September. He added that
benet of all. also assist Council by identifying with ‘Invest Durban’, eekwini is
Furthermore, amongst the core potential new foreign direct now demonstrating an immediate
objectives it will follow a focused He said the strategy which is of investment opportunities and and aligned call to action, in
investor relationship management, international best-practice facilitating business linkages, partnership with business.
marketing and communication standard will generate new policy improvements, and
strategy with a healthy focus on revenue streams for the optimisation of the investment e entire full council
ACHIEVING A COMMON VISION FOR KZN

T urgent task of stimulating with a sluggish world economy, work together to develop common can’t be regarded as an optional
he annual KZN Growth
and yet specic KZN identity.
slow domestic growth, currency
extra because this could spark a
economic growth and ensuring
Coalition breakfast,
sponsored by Investec, was
resource prices, we still managed
held at the Coastlands Hotel in stability in light of the technical volatility and continuing declining He emphasized: “We want a reaction that none of us will be
able to contain. It is therefore in
recession facing the country.
Umhlanga on the 18 August 2017. to grow the total output value of unifying identity that will bring us our best interest and that of the
e event was attended by a wide He said while government all sectors of the provincial together without expecting any people of this Province to ensure
range of representatives from the would continue to ensure the economy from 400 billion in 2010, individual to denounce their own that we unite in action towards a
private sector as well as local and creation of an environment to a corresponding Rand Value of individual cultures and values. We prosperous KZN and RSA.”
provincial government ocials. conducive to investment, it was just under 500 billion in 2017. must emphasise that this matter
also critical for businesses to Formal employment in our
In his rst ocial role, Durban ensure that communities economy grew from 2.3 million in
Chamber of Commerce and benetted meaningfully from their 2010 to 2.6 million in 2017 with
Industry President elect, Musa operations. the most signicant gains made in
Makhunga was the programme the tertiary sector of the
director. “Our approach to radical economy.”
economic transformation entails a
Moses Tembe Co-Chair of KZN change of mind set in approaching Mchunu also stressed the
Growth Coalition requested that the economy and accepting that, if importance of skills development
there be closer consultation with more people are given space to as part of ensuring socio-
the private sector by government meaningfully participate, the size economic development. “is is
department and entities, which of our economy and its rate of an area that requires our collective
would promote an injection of growth will increase. It is also action. We are working with our
capital into the economy. about deserting our comfort zones tertiary institutions through the
and appreciating that, as we deal Human Resources Development
Tembe also commented, with the legacy of apartheid Council to ensure a better output
“Business and government have to misrule, all of us will have to make of required skills, but there are MEC Sihle Zikalala, Peter Staude, Premier Willies Mchunu
show more seriousness and vigour concessions and ensure that Black some structural challenges that
in ensuring that the National Africans in particular hold a more may take some time to correct.”
Development Plan is implemented discernible stake in the economy.”
speedily and successfully. Business “In the interim we have an
has to be seen to be in the KwaZulu-Natal Premier Willies opportunity to explore more
forefront of addressing the triple Mchunu, in his capacity as partnership arrangements for both
challenge of poverty, Co-Chair of KZN Growth formal private sector training
unemployment and inequality. Coalition, armed the opportunities as well as creating
is is not a function of commitment of government to experiential work and training
government only.” work with big business to ensure opportunities through an
inclusive economic growth. extended internship programme. I
e KZN MEC for Economic must acknowledge that this an
Development, Tourism and Mchunu remarked: “I believe area where the private sector has
Environmental Aairs, Mr Sihle that we have already caste a strong stepped forward and has already
Zikalala, reassured businesses foundation in this province for made a signicant contribution.
operating in KwaZulu-Natal that government and business to work Much more is however still
the province remained a sound together to achieve the common needed to ensure that we can
investment destination that had vision we have for our province.” achieve both our employment and
their interests at heart. unemployment targets.”
“I do, however, wish to indicate
Zikalala said government, that even in the challenging times Mchunu further called for
working with business, had the we have experienced since 2011, government and business sector to Vivian Reddy, Sipho Nzuza, Premier Willies Mchunu, Moses Tembe, Anant Singh

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