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Press Room Coega looks for US investments | Coega looks for US investments |
| Friday, 23 March 2007 | |
|
Coega is focusing on US investors as one of the key markets to attract investors
looking for a greenfield location. That is why it has accompanied the Minister
of Trade and Industries, Mr Mandisi Mpahlwa, on an investment promotion mission
to the US East Coast (17 - 23 March 2007), said Johan Fourie, Enterprise
Development Manager at Coega.
Fourie said he wanted the
Americans to understand why Cynthia Carroll, President of Alcan Primary Metal
Group chose the Coega IDZ for its new US$2.7 billion smelter. For her, Coega has
one of the best infrastructures in the
world.
Explains Fourie, "Coega is located at the back of a deepwater port, with a road network that links the IDZ to the rest of the sub-continent and a 15-minute drive to an international airport. US investors will find that the Coega One-Stop Investor Service Centre takes the hassle out of locating operations here." The mission to the US is a public-private partnership and is visiting New York, Chicago and Detroit to promote investment in five business sectors: BPO, ICT, biotechnology, automotive and financial services. Coega offers an unmatched value proposition for investments in the automotive, metals BPO, ICT, chemicals, logistics and agro-processing sectors, says Fourie, explaining that the Industrial Development Zone is strategically located next to the newest deepwater port in the southern-most tip of the African continent, halfway between east-west shipping routes. "We want to build top-of head awareness of the Coega IDZ as a preferred location for investments in manufacturing and services sectors in a location that was rated 75% in performance by the World Bank's 2006 Investment Promotion Agency Performance Review, which is a rating above the 42% average for IPAs in developing economies," says Fourie. Intimately involved in the investment drive is the International Marketing Council of South Africa (IMC) which is the custodian of Brand South Africa. Its Stakeholder Relations Director, Margaret Dingalo says that the investment drive is showcasing the boundless possibilities available to investors in South Africa. "We believe that such initiatives will help achieve South Africa's 6% growth target, as well as embrace tourism, trade and investment prospects ahead of 2010," she said. Ends
Issued by:
Meropa Communications Enquiries For more information about the mission, please contact:
Claire Taylor or Pamela Dlamini: Meropa Communications |
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