International Convention Centre (ICC), Durban
11 November 2024
Programme Director,
Premier of the KwaZulu-Natal Province.

Deputy Mayor of eThekwini Metro Municipality, Cllr Zandile Myeni,
Deputy Minister Zuko Godlimpi,
MEC for Economic Development, Rev. Musa Zondi,
Members of the KwaZulu-Natal Executive Council,
Board Chair of Trade and Investment KZN, Mr Khanyisani Shandu
CEO of Trade and Investment KZN, Mr Sihle Ngcamu
Co-Chair of the eThekwini Presidential Working Group, Mr Michael Mabuyakhulu
Traditional Leaders present,
CEOs of State-Owned Enterprises both National and Provincial
Members of the Diplomatic Corps and International Organisations
Captains of Industry,
Esteemed Guests,

Introduction
Good Morning, and thank you to the Province of KwaZulu-Natal for the opportunity to
address this KwaZulu-Natal Investment Conference. It’s a privilege to acknowledge
the significant role KZN plays in driving trade and investment into our economy.
This conference arrives at an opportune time for strengthening the collaboration
between the public and private sectors as we work together to build an inclusive
economy and generate jobs.
Since the Government of National Unity’s (GNU) formation in June, we've seen
dynamic engagement with investors, both local and international, resulting in a
positive shift in perceptions toward South Africa's business environment. Investors
now view our country with renewed optimism, which has bolstered business
confidence and a willingness to invest here. We are pleased to see growing interest
in KZN as a key part of South Africa's economic landscape.
Ladies and Gentlemen, we are turning the tide.

Government’s Targeted Interventions in KZN
We are proud of the support the dtic family has provided to businesses during the
challenges of COVID-19, social unrest, and floods, as part of our economic recovery
efforts in KZN. This financial and infrastructure support has been instrumental in
helping businesses in the province rebuild swiftly. Stats SA confirms that KZN is now
leading with a growth rate of 1.1% and remains second in GDP contribution,
representing 16% of the national economy.
Through Operation Vulindlela, a task team under the Presidency and National
Treasury, we are implementing structural reforms to improve the investment
environment. In the next phase, we will work with municipalities to strengthen service
delivery and support local capacity.

The Presidential eThekwini Working Group is addressing challenges that hinder
investors in executing projects in this city. This task team focuses on key issues
impacting the people of eThekwini, including service delivery, which requires strong
collaboration between the public and private sectors.
In addition, work by the National Logistics Crisis Committee has led to a 73%
reduction in vessel congestion at the Port of Durban since November 2023. The
Freight Logistics Roadmap, recently approved by Cabinet, will allow for significant
reform in the freight sector.

Ladies and Gentlemen,
Trade and Investment Opportunities
Expanding trade and investment is critical for re-industrializing our economy. The
dtic remains committed to enhancing our industrial base through sectoral
masterplans, and we encourage businesses in KZN to scale up their investments
while inviting new investors to take advantage of the province’s potential.
Our focus is on positioning South Africa as a preferred investment destination and
regional hub, encouraging companies to establish their operations here and grow
their export reach. Many companies have committed to the Presidential Investment
Drive, pledging significant investments in KZN that will contribute toward our national
target of R2 trillion in investment over the medium term. We applaud those
companies already on board.
With our enabling industrial policy, we’re expanding Special Economic Zones
(SEZs), promoting export-led growth, and harnessing the Africa Continental Free
Trade Agreement (AfCFTA). This year marked the start of preferential trading under
the AfCFTA here in eThekwini. Companies located here also have strategic access
to other trade instruments such as the African Growth and Opportunity Act (AGOA)
and the European Free Trade Association-SACU Free Trade Area.
Honourable Premier,

Special Economic Zones and Industrial Parks
South Africa’s SEZ Programme has been instrumental in attracting capital
investment, with KwaZulu-Natal’s Richards Bay Industrial Development Zone and
Dube Trade Port offering world-class infrastructure. These zones, along with KZN’s
industrial parks, are pivotal for driving industrialization across the province.
Richards Bay hosts major investments, including Wilmar Industries’ R1.5 billion
edible oil refining plant, which supports agro-processing and logistics, and Nyanza
Light Metals’ R15 billion titanium dioxide pigment project. At Dube Trade Port SEZ,
57 investors, including Samsung and AIH-Mahindra, contribute to a wide range of
manufacturing sectors.
I recently witnessed Toyota and Ogihara South Africa break ground on a R1.2 billion
automotive investment, advancing the South African Automotive Masterplan’s
localization goals.
In an attempt to reverse the impact of Apartheid spatial planning, it seems as if we
threw the baby out with the bathwater when it came to Industrial Parks. We are
hence embarking on a targeted program of refurbishing our Industrial Parks so that
they may play the important functions of creating jobs and stimulating local economic
development.

Ladies and Gentlemen,
Conclusion
These investments highlight the impact of strong public-private partnerships and
underscore the successes possible through our collaborative efforts. To grow these
achievements, we need a unified approach across all levels of government to
support economic growth.
I congratulate KZN on hosting this conference and encourage all of you to engage in
productive discussions that will help to improve the investment climate and attract
more opportunities to the province and South Africa. Together, we can forge a path
toward shared success, building a resilient economy that benefits all our people.
The dtic family looks forward to supporting you as we continue this journey of
economic development together.

I Thank you!