By Lwando Nomoyi

Port Elizabeth – The Coega Development Corporation (CDC) welcomed the Chinese delegation together with Eastern Cape Premier Phumulo Masualle at the Coega Business Centre on Friday. This prestigious visit by the foreign investors and Eastern Cape Premier is set to grow and strengthen the relationship of Zhejiang Province and the city of Port Elizabeth and formed part of the conclusion signing of the strategic Memoranda of Understanding (MoU) between the two International Provinces.

According to Premier Masualle, the indefinite commitment and intention of Chinese investment in the Eastern Cape Province and South Africa, is indeed a key component in the socio-economic development of the people of South Africa.

“This gives me the impression and certainty of the abundant opportunities presented within this Special Economic Zone (SEZ) as part of building our relationship between the two Provinces”. Added Masualle.

He further alluded the gratitude and honour of the Eastern Cape Provincial leadership and hopes to multiply the numerous investment opportunities and possibilities with the Chinese delegation.

People’s Republic of China Party Secretary, Mr Che Jun was deeply impressed by the Special Economic Zone and its International investment potential.

Mr Che Jun stated, “Compared with other Development Zones, the Coega Special Economic Zone (SEZ) has its own advantages in terms of its geographical location, deep water ports and the infrastructure in the city”.

The Party Secretary further mentioned, the SEZ has very rich resources, being the large mass of land it operates in and its reasonable tax and customs policies for foreign investment. “The presence of two major Chinese companies investing in the SEZ namely First Automotive Works (FAW) and Beijing Automotive Industry Holding Co (BAIC), sets the platform for more Chinese companies to invest in this Special Economic Zone”. Said Che Jun

The Chinese delegation showed great interest in future investment in the SEZ and vowed to continuously grow the relationship between the Eastern Cape Province and the Chinese Zhejiang Province.

Transnet’s Rajesh Dhana expressed the critical role of Transnet in the South African economy and its link with the Coega Development Corporation (CDC) to fuel development in the country.  The mandate of Transnet is to lower the cost of doing business in South Africa, enable and most importantly to ensure the security of supply, through providing appropriate port, rail and pipeline infrastructure.

Dhana further alluded “Transnet’s very ambitious mission is to fuel Africa’s growth and development as a leading provider of innovative supply chain solutions”.

He said Transnet’s mission is to link economies, connect people and grow Africa.

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