Gauteng ready to accelerate economic growth- 31 August 2020

Office of the Premier 2020/08/30 - 22:00



Rofhiwa Marubini

Gauteng government says even though the Growing Gauteng Together strategy (GGT2030) plans were interrupted by the COVID-19 pandemic, the province is now ready to accelerate and implement its economic programme under lockdown level 2 .

As a way of reigniting the economy, the provincial government will use infrastructure programmes to revive the Gauteng economy by rolling-out bulk infrastructure investment scheme in the Western Corridor and continue in Lanseria and the Vaal.

According to Gauteng Premier, David Makhura, a R50bn budget has been allocated to develop the Tshwane industrial hub in the Northern Corridor, including in sectors such as rail and bus manufacturing.

"In the Eastern Corridor, government has planned to spend R200bn by 2030 consolidating Ekurhuleni's position as Africa's largest Aerotropolis and a major hub for manufacturing, transport and logistics in the SADC region. 

" In the Southern Corridor, government plans to build a new economy which is based on a revitalised manufacturing sector, logistics, agriculture and Agro-processing located in a Special Economic Zone that covers both sides of the Vaal and will spend R40bn by 2030," he said. 

Government will also position Johannesburg as Africa's financial and technological nerve centre, with globally competitive capabilities in business services, pharmaceuticals, innovation, research and development in the Central Corridor

Furthermore, the provincial government will also accelerate Township Economy Revitalisation programme by funding Small Medium and Micro-Enterprise (SMMEs) by giving them loans where the repayment terms will vary from 6 weeks to 12 months.

Government will also build business sites through the Backyard Real Estate Programme.

In addition, in its additional efforts to reignite the economy, during tourism Month the province will host the annual World Tourism Day on 27 September. 


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