poised for Chinese investment in its R500-billion motoring industry after the president signed a tax break for the production of so-called new-energy vehicles into law.
With good government policies, we will attract new investment, we will increase and retain investment While the industry has welcomed the step, it comes after years of warnings that car making, the jewel in South Africa’s manufacturing sector, is at risk because of legislation in its biggest export market — the European Union — aimed at phasing out the use of internal combustion engines.The tax amendment, first proposed in the national budget in February last year, was only enacted by President Cyril Ramaphosa on 24 December.
France Dernières Nouvelles, France Actualités
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