SA TO PROMOTE SPECIAL ECONOMIC ZONES IN CHINA |
South Africa will embark on a roadshow in China to attract
investment in special economic zones (SEZs).
The Minister of Trade and Industry, Rob Davies, recently oversaw
the signing of a Memorandum of Understanding (MoU) between the
Department of Trade and Industry (dti) and the Bank of China.
Speaking following the signing ceremony in Johannesburg,
Minister Davies said the move would bear immediate results when
the roadshow to promote SEZs kicks off in May.
Through the MoU on strategic cooperation, the dti and the Bank
of China have agreed to cooperate on issues of investment
promotion and facilitation, trade promotion and projects
support.
The bank will also mobilise international and domestic
resources to promote investments for South Africa in its
capacity as a commercial bank.
¡§I am pleased that there are already plans to move speedily in
implementing the MoU, as there are arrangements in place for the
SEZs investment roadshow that will take place in China in early
May.
¡§The main purpose of the roadshow is to promote our SEZs in
China and showcase the opportunities that are available there,
with the view of attracting more investment in the SEZs,¡¨ said
Minister Davies.
Minister Davies said China was not only South Africa¡¦s largest
trading partner but it had also emerged in recent years as a
significant investor in both infrastructure and industrial
projects in South Africa.
¡§China¡¦s investments in South Africa are important, particular
to the dti, as they boost the department¡¦s efforts to
industrialise the country. Financial institutions like the Bank
of China play a very critical role in the facilitation
investment projects in the country.
¡§We are optimistic that the MoU will strengthen cooperation
between South Africa and China in a number of areas, including
trade missions, joint marketing activities, investment and
industrial finance,¡¨ said the Minister.
The MoU was signed by the Director-General of
the dti, Lionel October, and the General Manager of the
Financial Solutions Department at the Bank of China, Ren Li.
SEZs are geographically designated areas of a country set aside
for specifically targeted economic activities, supported through
special arrangements (that may include laws) and systems that
are often different from those that apply in the rest of the
country.
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