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S. African companies to hold road show in China

Xinhua, May 5, 2017 Adjust font size:

The South African Department of Trade and Industry (DTI) will lead a 25-member delegation on an investment road show in the Chinese cities of Guangzhou and Shenzhen, said Minister of Trade and Industry, Rob Davies on Friday.

The road show will be from May 6 to 11, 2017 and the delegation will consist of high-ranking officials of the Trade and Industry department, Special Economic Zones (SEZs) and provincial economic development agencies.

Davies said the road show is part of the implementation of the undertakings of the Comprehensive Strategic Partnership Agreement signed between SA and China in 2011 and also the Forum on China-Africa Cooperation Summit in Johannesburg in 2015.

He said China agreed to support South Africa and Africa's industrialization.

"The investment road show seeks to attract varied potential investors in different sectors to invest in the South African SEZs. As our focus in regard to the SEZ implementation program is on attracting investments into the SEZs, the ultimate objective of the road shows of this nature is to bring high-level local and international investors together with a view to entice them to invest in South Africa," he said.

Davies also said the road show is part of the implementation of the Strategic Partnership Agreement which was signed between the Department of Trade and Industry and the Bank of China in March this year. Both parties agreed to assist the other part to get markets and collaborate in helping each other develop. During the road shows in China there will be seminars, networking and match-making sessions.

"The seminars will provide a platform wherein the South African SEZ operators will have an opportunity to meet and present their value propositions to potential Chinese investors, finance institutions, and government representatives," said the minister.

He said his department wants to learn and benefit from their cooperation with China's SEZs. There are many productive programs his government is doing in partnership with China. These include development of high-tech and science industrial parks, a metallurgical SEZ, and capacity building program.

"China is the second biggest economy in the world, and South Africa's biggest trading partner. China's market remains a key strategic priority for South Africa's raw material and value-added products," he said.

"More importantly, the DTI has entered into a number of strategic partnerships with the Chinese government. The main purpose of these strategic partnerships is to foster cooperation on investment promotion and facilitation, infrastructure development, exchange of information and human resource development," he said.

He said the marketing and investment approach will make the country's SEZ vibrant and make the economy competitive, adding there has been an increase in the investment of SEZs, having attracted investment of about 3.15 billion U.S. dollars.

South Africa has prioritized the industrialization in the country's blue print, the National Development Plan. South Africa is using the SEZs to attract Foreign Direct Investment, establish industrial parks and create jobs. Endit