Cape Town enhances international trade relations

Summary:

• Cape Town is a high-performance African Business hub which supports big ideas and innovation
• It is an excellent location for businesses to launch their operations into Africa. We are ready to help you build your business case for investment
• Cape Town is a world-class tourism destination that is also a forward-looking globally competitive city that is open for business and ready for investment
• A total of R140,4 million has been disbursed over the past seven financial years to business partners to facilitate investment, enable skills development and job creation
• Total investments of R18,77 billion and 29 785 jobs were created over this period
• Investments to the value of over R1,8 billion and just over 2 200 employment opportunities were created in the last six months

Note: The following excerpt is taken from a speech delivered by Alderman James Vos at the Cape Chamber of Commerce Diplomatic Corps event held today, 6 February 2019. Read more below:

Good afternoon dignitaries, ladies and gentlemen. I would like to recognise:

• Dean of Diplomatic Corps, His Excellency Mr Bene M’Poko, Ambassador of the Democratic Republic of Congo
• Dean of Consular Corps, Mr Andrei Zaharescu, Consul General of Romania in Cape Town
• Ambassadors and High Commissioners
• Envoys, Extraordinary and Ministers Plenipotentiary
• Consul Generals and Consuls
• Heads of other permanent Diplomatic Missions
• Trade and Business Representatives
• Representatives of the Cape Chamber of Commerce and Industry

A warm welcome to the City Cape Town.

I had the opportunity to visit some of the countries represented here today to explore trade opportunities and to experience the many diverse cultures.

I trust we can build and strengthen our tourism and trade opportunities.

Cape Town is a high-performance African Business hub which supports innovative ideas.

It is an excellent launch-pad for businesses into the rest of Africa and we are ready to help you build your business case for investment.

Whilst Cape Town is renowned for being a world-class tourism destination, the city is increasingly being identified as a forward-looking globally competitive city that is ready for investment.

A testament to this is the fact that we are already home to the African headquarters of major multinationals such as Amazon, Kimberly-Clark, DHL, and home-grown global titans such as Naspers, Shoprite and Woolworths who use Cape Town as a base to expand across the continent and beyond.

More companies are choosing Cape Town because the city boasts first-class infrastructure, sound governance, and four of the top African universities providing a skilled workforce.

We have disbursed a total of R140,4 million over the past seven financial years to business partners to facilitate investment that has enabled skills development and job creation.

This resulted in investment totalling R18,77 billion and 29 785 jobs being created over this period.

The city has shown incredible economic resilience despite economic challenges in the country, recording positive employment growth for the 9th consecutive quarter (Source: Statistics South Africa’s Quarterly Labour Force Survey 2018).

I am proud of our achievements. Cape Town is undoubtedly a melting pot of cuisine, colour and cultures.

As a City, we are committed to creating an enabling environment for business to invest and grow, which is supported by the establishment of the Invest Cape Town initiative. This demonstrates our commitment to making the city a place to live, work, play and invest.

Invest Cape Town works with international and local entrepreneurs, SMEs and multinationals that wish to set up a business in Cape Town.

Invest Cape Town offers numerous incentives that make business sense. For more information to visit www.investcapetown.com.

I am pleased to share with you the good news that during the last six months, through our strategic business partners, the City secured investments to the value of over R1,8 billion and in the process created just over 2 200 employment opportunities.

In September 2018 the World Bank Ease of Doing Business Report found Cape Town to be the best of all South African cities in getting electricity to investors and granting construction permits. The city’s top ranking in terms of providing electricity puts Cape Town in the top 25% of city economies worldwide.

We are working tirelessly to maintain this service and to this end, we are investing R6 billion in infrastructure each financial year.

We are excited about the planned upgrades to the Cape Town International Airport that will consist of a new run way to accommodate larger aircraft and additional parking stands, as well as improved departure terminals.

This project will certainly unlock the full potential of our aviation economy; and importantly, will connect the city with many more countries resulting in additional direct flights.

This also means more business opportunities.

In closing, cities drive global growth and are in many instances at the forefront of globalisation. Cities are the drivers of change.

My priority is to work with all stakeholders, including partnering with your countries and cities, to make Cape Town the go-to city in Africa and globally for tourism and trade.

Thank you and best wishes.