President Cyril Ramaphosa says the cash injection by Mercedes-Benz in
South Africa is proof of its confidence in the economy.
by Mercedes-Benz to further increase its investment in South Africa is a
firm statement of confidence in the country and its economy.
ˇ§It is a statement about the skills that are available in South Africa and
those that can be developed,ˇ¨ said the President.
On Tuesday, 27 June 2018, Mercedes-Benz unveiled its R10-billion investment
into its Eastern Cape plant.
The investment will see the car manufacturer produce its latest range of the
luxury C-Class cars.
ˇ§With the investment of 600 Million Euro (R10 billion) we are significantly
expanding our plant in East London and equipping it for the future. The
decision to have the new generation of the C-Class built in East London
reaffirms the plant and Mercedes-Benz South Africa.
ˇ§The investment is also a sign of our commitment to South Africa and efforts
to revive economic growth as well as the socio-economic development of the
East London region,ˇ¨ said Member of the Divisional Board of Mercedes-Benz
Cars, Production and Supply Chain, Markus Schäfer.
President Ramaphosa, who visited the Mercedes-Benz Learning Academy prior to
the official investment announcement, hailed the automotive groupˇ¦s efforts
to improving the skills of the youth through its apprenticeship and
ˇ§We say this is an investment in people because it deepens the commitment
that Mercedes-Benz has to developing skills and nurturing talent.
ˇ§It understands that for its business to grow, for it to keep pace with
rapid changes in production methods, it needs to train new entrants and
continuously upgrade the skills of existing employees,ˇ¨ said the President.
President Ramaphosa said the Mercedes-Benz investment should send a clear
signal to investors around the world that South Africa is ˇ§more than capable
of sustaining an advanced manufacturing sectorˇ¨ and doing so profitably and
ˇ§We are also determined to lower manufacturing costs by, among other things,
significantly improving Eskomˇ¦s financial and operational performance,
aligning port and other tariffs with our industrial strategy and sustaining
investment in rail and road infrastructure.
ˇ§Through the development of special economic zones and industrial parks, we
are putting in place the necessary infrastructure and support for a
manufacturing boom. We are working to ensure it is easier to invest and do
business in South Africa,ˇ¨ said President Ramaphosa.
He added that in an effort to boost more investment, government, through
Invest SA and the upcoming Investment Conference, was working towards
creating fertile ground for potential investors.
ˇ§We are making regulatory processes simpler, faster and more efficient, and
as part of preparations for our Investment Conference in October, we are
strengthening our investment promotion and facilitation capacity,ˇ¨ said the
ˇV Source: SAnews.gov.za