NORTH WEST GOVERNMENT HOSTS AN INVESTMENT FORUM ON THE SIDELINES OF THE BRICS SUMMIT
Sandton – The North West Provincial Government hosted an Investment Forum on Tuesday, 22 August 2023 at Sandton on the sidelines of the BRICS Summit.
The primary objective of this initiative is to promote trade and investment within the province to BRICS nations and the developing world. This includes promoting economic collaboration as well as attracting Foreign Direct Investments (FDI) on high value projects such as Bojanala Special Economic Zone which has already attracted fourteen projects with an investment pipeline of R13, 514 billion.
Acting Premier Maloyi who was accompanied by MEC for Economic Development, Environment, Conservation and Tourism, Galebekwe Tlhapi and MEC for Agriculture and Rural Development, Desbo Mohono has urged businesses to prioritize the province given its immense mineral wealth and natural resources.
“The North West Province is endowed with mineral resources and forms part and parcel of the richest platinum belt which accounts for seventy percent (70%) of the total reserves in the world. In addition to this the province currently has over three thousand active mines with investment opportunities ranging from exploration, processing in the form of smelters and refineries as well as provision of mining equipment among others” Acting Premier Maloyi said.
Agriculture and Tourism are also the largest economic drivers in the province. The North West is currently the top producer of beetroot, the second biggest producer of sunflower and carrots and a major contributor to the exports of maize in the country.
Investment opportunities in the Tourism sector include, resort development at Lindleyspoort Dam, hotel and conferencing facilities at Bloemhof Dam Reserve as well as the Sun City Theme Park.
Acting Premier Maloyi insists that these initiatives are aimed at repositioning the province as a preferred choice for investments.
“We are hard at work to reposition our province as an ideal destination for investments. Last year we saw mining companies like Sedibelo Platinum Mine investing over nine billion rand at their operations in Moses Kotane Local Municipality. But we want to diversify our economy particularly within the agriculture and tourism sectors.
We are currently in talks with various business entities to revamp our two airports. Our province is a gateway to the SADC region and the revitalization of these two airports will assist a great deal in the movement of goods across various countries in the region and the continent while creating socio-economic benefits for our people” concluded Premier Maloyi.
Ends
Issued by North West Office of the Premier.
For enquiries contact:
Mr. Sello Tatai
Spokesperson to the Premier
North West Provincial Government
Cell:0647562510/0824507842
E-mail: statai38@gmail.com
Or
Brian Setswambung
Provincial Head of Communications
Office of the Premier
North West Provincial Government
Cell:0760124501
Email: bsetswambung@nwpg.gov.za
