Saturday, July 13, 2024
spot_img
HomeAgriculture, Forestry, FishingWelcome to the Eastern Cape!

Welcome to the Eastern Cape!

Mr Ayanda Wakaba, Chief Executive Officer of the Eastern Cape Development Corporation (ECDC), extends a warm welcome to a land of infinite possibilities and investment opportunities that is open for business.

Accounting for nearly half of South African vehicle exports, the Eastern Cape is a proud host to three global automotive manufacturers, Isuzu, Mercedes-Benz and Volkswagen. The province is also home to a Ford engine manufacturing plant. With three sea ports and airports, we lay claim to competitive logistics for investors and easy access to regional and international markets.

Two renowned Special Economic Zones (SEZs), the East London and Coega Industrial Development Zones (IDZs), and industrial parks infrastructure throughout the province accentuate our attractive business sites with access to world-class logistics infrastructure and a significant cross-sectoral investment potential.

Ayanda Wakaba, CEO of the Eastern Cape Development Corporation.

We are preparing fertile ground for the development of sector-based capabilities. Apart from a world-class manufacturing sector, the province holds a significant investment potential in agriculture, with opportunities in agro-processing, light manufacturing, renewable energy, digital economy, tourism and the Oceans Economy.

These sectors offer immense potential for investment and job creation and they serve as focal points for economic development initiatives.

The province is developing the requisite public infrastructure to support the attraction of private capital. The province is aware that public investment in economic infrastructure forms the bedrock of energised economic activity and investor-attraction activities. The province is investing in social and economic infrastructure which is designed to position the province as the ideal place to invest, work and play. We are building roads and improving ports and airports infrastructure. We are developing Special Economic Zones and industrial parks as platforms for foreign and local direct investment.

A conducive environment

These interventions are designed to create a conducive environment and a soft landing pad for private investment. In addition, the recently launched Provincial Investment Council (PIC) is intended as a public-private platform to find innovative means to remove red tape and regulatory hurdles to investor attraction.

Government is using its agencies such as the ECDC as vehicles to promote provincial economic transformation, inclusive growth, competitiveness, investor-focussed solutions, pioneering innovation in key growth sectors, operational efficiencies and financial sustainability.

At the centre of these efforts is the cultivation of strategic partnerships and public-private stakeholder engagements that respond to national and provincial economic development strategies while unlocking the potential of the Eastern Cape economy. These efforts are informed by the imperatives outlined in South Africa’s Country Investment Strategy (CIS) which outlines the path towards sustainable economic development.

Informed by the CIS framework, we are committed to exploiting investment opportunities in:

Green hydrogen: Pioneering the global forefront of green energy

The Eastern Cape is party to the Three Capes MoU between the Western Cape, Northern Cape and Eastern Cape, which allows for the establishment of a conducive institutional framework and inter-provincial coordination to enhance localised renewable energy production. The MoU was signed at the South Africa Green Hydrogen Summit, pictured below.

Next-Generation digital industries and infrastructure

The ECDC supports the promotion of innovation and the building of vital infrastructure in metros and rural areas through various infrastructure support programmes.

Special Economic Zones: Anchoring advanced manufacturing and logistics networks

The Eastern Cape currently possesses two critical Special Economic Zones, the Coega Special Economic Zone and the East London Industrial Development Zone, enhancing industrialisation endeavours and enhancing the Eastern Cape’s investment attractiveness.

Industrial cannabis and agro-processing: Harnessing the potential of advanced agriculture

Spearheading the drive for industrial cannabis beneficiation, the province is poised for export growth in this globally competitive sector. Recent livestock exports show the Eastern Cape’s potential to drive increased agricultural exports.

Hyper-scaling impact investment: Driving social and green economy objectives

The green and renewable energy sectors offer greenfield opportunities for investment in the province, while development of the Global Business Services sector, supported by the ECDC, drives opportunities for SMME development and youth employment in the province.

The East London Industrial Development Zone (ELIDZ)

Investment declarations from the Eastern Cape Investment Conferences in 2022 and 2023 demonstrate the province’s commitment to sustainable investment attraction. We are celebrating the successful implementation of key projects in manufacturing, media, construction and retail. Notable projects, such as BENTELER’s manufacturing venture, and Tshedza Picture’s media production initiative, underscore the potential and opportunities in the Eastern Cape.

The recently introduced Economic Development Fund (EDF) stands as a testament to our dedication to supporting entrepreneurship, stimulating economic growth and creating sustainable employment opportunities. A strategic allocation of resources and strategic partnerships are intended to unlock the full potential of our economy and to empower communities.

Looking ahead, we are excited about the opportunities presented by initiatives such as the African Continental Free Trade Area. We also remain focused on driving growth across all global markets.

We extend our heartfelt gratitude to our esteemed shareholders, stakeholders, partners, and collaborators for their unwavering support and commitment. Together, we will chart a course towards a brighter and more prosperous future for the Eastern Cape.

Join us in mapping an inclusive future for the Eastern Cape premised on shared growth and investment returns.

RELATED ARTICLES

Investment Projects

Business News

spot_img

Recent News

spot_img