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BRICS delivers R4 5bn investment for KZN

Source: The New Age

Chris Makhaye

KZN secured more than R4 5bn total of investment in infrastructural projects during the recent BRICS Summit which was hosted in Durban last week, The New Age Business Briefing delegates heard on Thursday.

Thousands of delegates from Brazil, Russia, India and South Africa (BRICS) and other African countries attended the summit.

 KZN MEC for Economic Development and Tourism Mike Mabuyakhulu said the province would be reaping the dividends of hosting the summit for a long time.

Some of those who attended include business people from these countries that were on the lookout for investment and business opportunities emanating from agreement signed.

During The New Age Business Briefing  broadcast live on SABC2 in Durban, MEC Mabuyakhulu told guest and viewers at home that the province had attracted R2bn for a joint venture with a Indian-based company to develop plants near the Dube Trade Port and another R2 5bn from a Shanghai (Chinese) company to invest in the province.

He said the BRICS summit itself had seen about R300m being spent by delegates in and around Durban during the week of the gathering.

"So we did not only have thousands of visitors who had been introduced to our destination but we also ensured that agreement signed would have long lasting benefits for the region. Many of the delegates who attended praised us and have indicated that they will come back," he said.

Mabuyakhulu said they have separated the province into ten regions which will each have their own economic growth point to kick-start economic activity which will be supported by government as part of the National Development Plan.

"There will be 10 critical core drivers of the economy and there is no district that will not get the attention of our attention. The second part of our intervention is to roll out career guidance so that we ensure that we skill our people in line with the growth sector of our province because we want to ensure that we have the necessary skills to grow our economy," he said.



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