45 of 152 economy investment projects completed so far, says Patel

Minister of Trade, Industry, and Competition Ebrahim Patel on Monday said of the 152 investment announcements made at investment conferences previously, 45 projects had already been completed.

Patel said the investments followed the previous investment conferences where major companies pledged billions in investment.

He was briefing the media on the preparations for the fourth South African Investment Conference taking place in March.

“Something of the order of R315 billion of the investment commitments have been spent according to the companies’ reporting.”

He said an example of some of the successes was the investment by one of the world’s largest vaccine manufacturers in the Eastern Cape.

“The one is Aspen Pharmacare in Gqeberha; they committed R3.4 billion at one of the investment conferences to create a world-class pharmaceutical production capability in South Africa.”

The conference is part of the government’s investment drive to attract R1.2 trillion over five years.

-EWN

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