Collaboration with China will accelerate SA's Industrial development
The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe says close cooperation between South Africa and China will accelerate the implementation of South Africa’s industrial development programme. Magwanishe was speaking at a seminar that was hosted by the Department of Trade and Industry (the dti) in partnership with the Chinese National Development Reform Commission (NDRC) in Shanghai.
The seminar was part of the Special Economic Zones Investment Roadshow. The purpose of the roadshow is to attract investors to the country’s Special Economic Zones. More than 100 Chinese companies and representatives of South Africa’s SEZs participated in the seminar.
“The SEZ Investment Roadshow marks the significance of our relationship with the government of China. We are honoured to partner with Chinese institutions as part of our efforts to market and promote our SEZs in China. This collaboration will accelerate the implementation of both our industrial development and radical economic transformation agendas,” said Magwanishe.
He added that the SEZ Programme was one of the programmes that the SA government initiated in order to attract foreign and domestic investments and to stimulate industrialisation.
“Our collaboration with the Chinese government and its institutions such as the National Development Reformed Commission and the Bank of China will go a long way in assisting us achieve the objectives of our SEZ Programme. These include the attraction of foreign direct investments, increasing export value and accelerating the beneficiation of agricultural goods as well as mineral resources,” he added.
Magwanishe indicated that South Africa had a lot to learn from China in regards to economic growth and development.
“China has earned its position as the second largest economy in the world. This is due to its leading role in manufacturing, technological development and industrialisation. As a developing country working hard to grow its economy, South Africa has a lot to learn from China, which is also our largest trading partner in the world,” added Magwanishe.
The dti signed a Memorandum of Understanding with the NDRC in 2016 and another with the Bank of China in 2017. The objective of the MOUs is to collaborate on efforts to attract investments to the SA SEZs, development of industrial infrastructure, mineral beneficiation, manufacturing and human capital development.
“These kinds of partnership and collaboration have already proved to be beneficial to South Africa as the commendable role that China is playing in stimulating the implementation of our SEZ investment projects is making a huge and noticeable difference,” said Magwanishe.
He added that China has partnered with the dti in the development of a metallurgical complex in Limpopo, the Beijing Automotive International Corporation (BAIC) which has injected R11 billion in the manufacturing facility in the Eastern Cape and the expansion of Hisense manufacturing facility in Atlantis, Western Cape. In addition, the Chinese companies have recently committed to invest US$10 in the Musina-Makhado SEZ which is based in Limpopo
“To date, 120 South African officials across three spheres of government have been trained in China as part of our partnership in the Capacity Building Programme. The purpose of the programme is to equip our officials with skills and knowledge on the planning, development and management of SEZs. This week 50 more of our officials will arrive in China for this training,” stated Magwanishe.
Sidwell Medupe-Departmental Spokesperson
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Issued by: The Department of Trade and Industry
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