Eastern Cape Premier Oscar Mabuyane has welcomed a R3 billion investment in the province by the Stellantis Middle East & Africa Automobile Corporation.
The investment will see a state-of-the-art green field manufacturing facility developed in the Coega Special Economic Zone in Gqeberha.
It comes six months into the signing of a Memorandum of Understanding between the automobile company, the Industrial Development Corporation and the Department of Trade, Industry and Competition.
“The sixth term of government has been intentional in lobbying investors into our province.
“This has resulted in over a R171 billion in investment in our province. The arrival of Stellantis Middle East & Africa Automobile Corporation on our shores will make the province home to five global automotive manufacturers,” Mabuyane said in reaction to the investment.
“Our Special Economic Zones continue to play a pivotal role in positioning the Eastern Cape as a key investment destination. As we welcome this investment and the jobs it comes with, we further affirm that the Eastern Cape is open to investment,” added Mabuyane.
The investment will see 1 000 jobs being created in the automotive sector, which has proven to be a principal economic contributor in the province.
It also comes on the eve of the Eastern Cape Investment Conference that takes place in East London on September 29, at which the provincial government expects to attract more investors to the province.
Mabuyane, together with Rural Development and Agrarian Reform MEC, Nonkqubela Pieters, recently led a delegation on an official visit to Tunisia, which was also aimed at attracting investment to the province.
Memorandums of Understanding and partnership agreements were signed between the province and the North African country during the visit.
Eastern Cape Economic Development, Environmental Affairs and Tourism MEC, Mlungisi Mvoko, speaking during the recently concluded Nyandeni Investment Summit, said a one stop investment shop will be opened soon in East London.
“The one stop shop will link an investor with all the relevant stakeholders under one roof, to address red tape and turnaround time which stifles investment,” said Mvoko.
