President Cyril Ramaphosa speaking at the official launch of the Tshwane automotive hub at the Ford Motor Company in Silverton, Pretoria on November 5 2019.
However, he said all levels of government must untangle their “regulatory logjams” if SA is to fulfil its potential as an investment destination. Inducements include tax, duty and VAT breaks, as well as job-creation benefits. The zone is an extension of the OR Tambo International Airport SEZ. Besides central government, the Gauteng and Tshwane development agencies are also in on the deal.Ramaphosa said the willingness of central and local government to work together showed what could be achieved when the government removed investment obstacles.
Hill said the closer proximity of suppliers would reduce Ford’s costs and make it more competitive. Since 2009, the company has invested more than R11bn in Silverton, which builds the Ranger bakkie, and in the Struandale engine plant in Port Elizabeth. The Ranger is exported from SA to more than 100 markets around the world.
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Source: SABC News Online - 🏆 32. / 51 Read more »
‘Regulatory logjams’ to be unblocked to help foreign investment, says Cyril RamaphosaThe president was speaking at the launch of a new special economic zone for the motor industry in Tshwane Been hearing that for ages now. All talk zero action. Can’t even sort out visas after YEARS of Gigabytes disasters 🤷🏽♂️
Source: BDliveSA - 🏆 12. / 63 Read more »