The RBIDZ is upbeat about the prospect of becoming a catalyst for job creation and economic growth.
The recently hosted 15th BRICS Summit in the country has afforded both public and private organisations with expressive opportunities to participate and robustly engage with the BRICS delegates through formal dialogues and presentations focusing on investments, trade opportunities and enhancing bilateral economic relations amongst others.
Leveraging on BRICS 2023 theme ‘Partnership for mutually accelerated growth, sustainable development and inclusive multilateralism’, the Richards Bay Industrial Development Zone had an opportunity to showcase and promote the RBIDZ as a prime destination for direct investments during the KZN BRICS Seminar held in Durban as well as the Summit in Johannesburg.
The highpoints and sector elevated by the RBIDZ CEO, Thabane Zulu in the main focused on initiatives driven by the company to tackle energy security challenges currently destabilising industrialisation.
Whilst highlighting that and calling for emergent action and investment interests, he also presented energy projects that have been secured to overcome the energy security and insufficient supply of energy for domestic and industrial consumption.
BRICS Delegation during the site visit to the 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.
Following a series of activities undertaken by the KwaZulu–Natal province in the wake of the 15th BRICS Summit, the RBIDZ further hosted delegates to its various estates ahead of the Summit held in Sandton last week. The delegates presented high interest in exploring investment opportunities in RBIDZ and the province at large.
“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 a leader of Government Business, the MEC for Economic Development, Tourism and Environmental Affairs, and also a RBIDZ shareholder.
RBIDZ Legal Manager – Adv. K Harvey (centre) conversing with the delegation after the overview presentation of the SEZ “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.”
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.
The RBIDZ is upbeat about the prospect of 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.
“Hosting the BRICS delegation yet again following the one in 2018, affirms the trade intentions, agreements and relations that continue to be prioritised and harnessed for the realisation of our vision,” concluded Zulu.