New investments to give Gauteng economy a facelift

Office of the Premier 2019/06/30 - 22:00



Gauteng province as the biggest contributor of the South African GDP, is the engine of the South African economy.

In the past five years, Gauteng has reaffirmed this position by attracting R199 billion of Foreign Direct Investment (FDI) and creating 469 000 new jobs through private public partnerships.

Delivering his inaugural State of the Province Address under the 6 administration on Monday morning, Premier David Makhura noted that the manufacturing sector was the biggest contributor in this investment and job creation.

In 2015, BMW invested R6 billion at its Rosslyn plant for the production of the X3 BMW model, creating 1000 additional jobs.

Ford invested R2 billion in 2016 at its Silverton plant, creating 1200 new jobs. Whilst Inveco-Larimar with its R600 million investment at its Rosslyn plant in 2016 created 1000 new jobs.

"The joint sector-based initiatives between government and business are beginning to unlock the growth and job creation potential of different regional economies or corridors. This is social impact in action", said Premier Makhura.

Premier Makhura also unveiled new investments that would not only grow the economy but also assist to in addressing the scourge of unemployment in the province.

The new investments include, an investment of more than R6 billion from ABInBEv in Vereeniging, which is expected to create 1000 new jobs. Furthermore, there is a major investment of R6 billion by Silverton Automotive Hub, which when finalised is expected to create, 2255 direct jobs and 19 433 construction jobs.

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