DTIC highlights attractiveness of Richards Bay as investment location

DTIC DM Visit 20

 

The Richards Bay region needs to be positioned as an attractive investment destination by building good relations with businesses that have already invested in the city, said Trade, Industry and Competition Deputy Minister Nomalungelo Gina.

Speaking at the inaugural Business Expo 2020, organised by the City of uMhlathuze and the Richards Bay Industrial Development (RBIDZ), on February 16, she said an “aggressive strategy” was required to attract more investors to view Richards Bay as a city of choice for doing business.

“This means cutting the red tape for companies wanting to settle here. Investors are interested in getting a clear municipality investment plan and its growth plan. This means a clear expansion plan in the immediate, medium and long term for them to invest,” she explained.

She urged the local government to use the business exhibition to start communicating a clear message to businesses regarding the future plans of the city, persuading them to invest. “We plead with potential investors to engage with the municipality [about] settling in this region. “We also plead with Zululand Chamber of Commerce to strengthen their working relationship with the government and to stimulate investment to this region, beyond just minerals,” said Gina.

In this regard, she noted that there was a “real and immense” role that the municipality, in particular, and government in general, had to play in spearheading growth and job creation. Gina also said the Department of Trade, Industry and Competition encouraged business engagements and networking sessions as they facilitated trust between government policy makers, the business community and potential investors.

“We are proud that our industrial development zone in Richards Bay is a critical catalyst for bringing some significant investments. “We have seen their investment attraction drive resulting in large companies settling in the RBIDZ. During the 2019/20 financial year, the RBIDZ attracted more than R6-billion worth of investments,” she stated.

According to Gina, the role that the RBIDZ plays in driving investments in the zone must not cause the municipality to surrender its own responsibility of attracting companies, not only for Richards Bay but for uMhlathuze City as a whole.

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