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R2bn attracted to SA's 'powerhouse'

Posted On Wednesday, 11 June 2003 02:00 Published by
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Most economically dynamic province

AS THE powerhouse of the national economy, Gauteng is ideally placed to attract investment.

Covering a surface area of only 18810km², Gauteng is SA's smallest, most economically dynamic province. It generates almost 38% of the country's gross domestic product and 10% of that of the African continent.

Geda aims to become a household name as the flagship facilitator of economic development for Gauteng. It seeks to focus on investment and investors only where the chances of success in attracting investment to Gauteng are the greatest.

Says Geda CEO Charles Jonker: "We aim to give highquality inputs and want to play an indispensable role in policy formulation to make Gauteng investor friendly. In addition, we want to be involved in, and facilitate, the planning and execution of economic development and investment in Gauteng."

Geda's core business is focused on investment promotion, investment development and facilitation, and developing export capabilities. It works with the private sector and government in a number of initiatives.

These include positioning Gauteng as the leading investment and business location in Africa; identifying and facilitating focused international business missions; and negotiating with the local and international investor community and governments to create areas of opportunity in industry.

Geda also participates in targeted trade and investment exhibitions and hosts inward business delegations Other goals are to develop a local and international networking base; to produce informative publications and investment information material on Gauteng and its industry; and to identify local and international project opportunities.

Neil Nel, GM of project facilitation and development at Geda, says to date the agency has facilitated more than R2bn worth of investments into the province.

A team of investment facilitators, overseen by 16 professional engineers, offers investors a complete turnkey solution. It includes, but is not limited to, project facilitation assistance; implementation and operation of a project; finding investment and trade partners; and raising funds for an investor's project.

Assistance is also given in sourcing information required for investment projects; work permit applications; finding appropriate sites/properties for projects and incentive applications.

"We see investment in a broad way. We see it as wealth created. It is not just a matter of someone investing directly in Gauteng there are many more ways of creating wealth in the province, such as foreign trade, reinvestment and expansion. All these contribute to an increase in job creation and in taxes to the government, which benefits us."

Geda seeks to maximise job opportunities by analysing the value chain of a proposed investment and introducing job-rich supply side chains to the principal investor, says Nel.

Jun 11 2003 07:16:51:000AM  Business Day 1st Edition

Publisher: Business Day
Source: Business Day
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