Gauteng set to get R1.8bn investment

Posted On Thursday, 07 October 2004 02:00 Published by
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The Gauteng Economic Development Agency (Geda) is on a drive to boost new investments into Gauteng to 1.8 billion rand this year, Geda announced.

The Gauteng Economic Development Agency (Geda) is on a drive to boost new investments into Gauteng to 1.8 billion rand this year, Geda announced.

It is focusing on call centres and a China-South Africa mining initiative which has already seen considerable new business for Gauteng.

In addition, the focus is on a perishables export hub at Johannesburg International Airport and the development of the fluorine industry - a nuclear industry by-product.

Last year Geda achieved investments of more than 1.5 billion rand including a dramatic rise in investment from Africa.

In less than eight years, Geda has brought more than 5 billion rand worth of new investments into Gauteng.

Gauteng economic activity is being spearheaded by a burgeoning call centre industry, flourishing film sector and exports ranging from automotive components to processed foods.

"Thousands of jobs are being created, vividly illustrating the impact Geda programmes are having on Gauteng's economic footprint," Geda General Manager Communications Bev Pryde said.

More than 70% of the film and television industry in South Africa is based in Gauteng. The local film production industry generates around 1.4 billion rand per annum.

Film production in South Africa is 30% to 40% cheaper than in the US and 20% less expensive than Australia, Pryde noted.

"Geda is becoming a powerful ally in stimulating North-South economic activity and is being accepted as a working partner in the continent's economic recovery," she continued.

A perishables export hub and the beneficiation of fluorine from the nuclear industry are expected to bring billions in revenue annually and create hundreds of jobs.

The perishables export hub will process products like flowers, meat and game that need a cold chain from producers to market.

The chain begins with farmers and continues unbroken to markets in the United Kingdom, France or Brazil.

South Africa is one of the world's four floral kingdoms, however it exports less bulk flowers than Tanzania.

Pryde said that goals of Geda's strategy for the year include goals to enhance job creation by smaller manufacturing initiatives, to expand Geda's export programme to 480 products and to broaden the Export E-Trade Platform.

An additional goal is to drive the international marketing of Blue IQ projects and secure private sector investment into infrastructural projects.


Publisher: Business Day
Source: Business Day

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