28th August 2023
The Leader of Government Business, Siboniso Duma has heaped praises on the Richards Bay Industrial Development Zone following the entity’s hosting of delegates to its various estates ahead of the BRICS Summit held in Sandton last week.
“We have received positive feedback from the delegation, especially from China and Saudi Arabia that visited RBIDZ. They were impressed by the manner in which investment opportunities were presented by the Chief Executive Officer Thabane Zulu and his team,” says Duma, who is also the MEC for Economic Development, Tourism and Environmental Affairs and therefore the entity’s shareholder.
“We have always positioned RBIDZ as a site for energy infrastructure. The fact that there is a growing interest in this sector is a clear indication that we are closer to finding solutions to challenges associated with energy security and insufficient supply of energy for domestic and industrial consumption.”
Duma was quick to point out that RBIDZ had been tasked with the responsibility of staging a provincial energy summit which will bring together energy experts, different spheres of government, captains of industry and non-governmental organisations for in depth engagements. The date of the summit is to be announced in the near future.
Considered as the fastest growing secondary city in the Republic of South Africa, Richards Bay is well poised to receive much needed boost in the form of foreign direct investments following this visit by potential investors from countries in the BRICS bloc. The addition of Saudi Arabia to BRICS coincides with an announcement by a delegate from Saudi Arabia of their interests in energy investment in RBIDZ.
RBIDZ has already signed billions worth of investments representing different key sectors of the economy. These include chemicals, Agro–processing, renewable energy, pipe manufacturing to name but a few.
“Whilst it is widely accepted that progress is being made in speeding up socio-economic development, as the RBIDZ we are continuously taking advantage of various investment facilitation events throughout the country and beyond as well as those hosted by the KZN government linked to BRICS to ensure that the scope of investment attraction expands,” CEO Thabane Zulu explained.
He was upbeat about the prospect of RBIDZ becoming a catalyst for job creation and economic growth.
“I believe that we have a winning formula as we are building on the foundation that has been laid over the years of hard work,” Zulu emphasised.
It should be remembered that RBIDZ hosted the Round-Table Dialogue at the Techno-Park in July 2018 ahead of the BRICS Business Council which took place from 22 to 23 July of the same year at the Inkosi Albert Luthuli International Convention Centre.
The discussion to forge and strengthen trade relations involved leaders from all spheres of government, private sector, academia, the media and ordinary members of society. The South Africa Ambassador for BRICS, Professor Anil Sooklal gave a keynote address in that round table dialogue which in the main was aimed at achieving the following:-
- Exploring investment opportunities offered by being part of BRICS,
- Facilitating business-to-business relations involving entrepreneurs in BRICS,
- Facilitating exchange programmes involving academics in BRICS,
- Positioning RBIDZ as a destination for foreign direct investments,
Unpacking the role of RBIDZ as an anchor for socio-economic development in KZN.
“Hosting the BRICS delegation yet again affirms the trade intentions, agreements and relations that continue to be prioritised and harnessed for the realisation of our vision, concluded Zulu”.
Issued by Richards Bay Industrial Development Zone (RBIDZ