EAST LONDON – The Eastern Cape Provincial Investment Conference 2023(EC PIC) now in its third year, took place at East London International Convention Centre(EL ICC). The investment conference held on 29th of September 2023 was attended by over 400 delegates, prominent figures including Eastern Cape Premier Oscar Lubabalo Mabuyane, who made a groundbreaking announcement during the event.
Premier Mabuyane revealed that a total of 18 investors had pledged their commitment to the region, with their investments totalling an impressive to R127 billion rands. This significant influx of capital is expected to fuel economic growth, create jobs and drive development across various sectors in the Eastern Cape.
“We are working tirelessly to improve the system of local government to make our municipalities attractive to investors. Rest assured things are changing positively in local government,” Premier of the Eastern Cape Oscar Lubabalo Mabuyane.
“The contribution of the 18 new investors to economic growth and job creation will benefit young and old who are yearning for job opportunities in the province,” Mabuyane added.
The conference provided a platform for local and international investors to explore the vast opportunities available in the province, to emphasis the conference highlighted the Eastern Cape’s potential in industries such as agriculture, manufacturing, renewable energy, tourism and infrastructure development. The provincial investment confrence 2023 aimed to attract investors who recognize the region’s untapped potential and are willing to contribute to its growth.
Premier Mabuyane in his keynote address emphasized the importance of these investments for the province’s economic transformation and upliftment. In addition Mabuyane expressed his gratitude to the investors for their confidence in the Eastern Cape and their commitment to partnering with local businesses and communities.
Among the investors were well-known multinational corporations as well as local businesses and entrepreneurs. Their investments will not only contribute to job creation but also support the development of small and medium-sized enterprises (SMEs) and promote skills transfer.
The funds secured through these investments will be utilized to upgrade infrastructure, develop new industrial zones, promote sustainable agriculture and support the growth of various sectors within the province. This injection of capital is expected to have a transformative impact on the Eastern Cape’s economy, improving the quality of life for its residents and positioning the region as a hub for innovation and growth.
The success of the Eastern Cape Investment Conference reflects the province’s commitment to attracting investment and fostering a business-friendly environment. It is a testament to the collaborative efforts of government, the private sector and various stakeholders working together to unlock the Eastern Cape’s economic potential.
In addition the Eastern Cape Development Cooperation(ECDC) Chairperson of the board Vuyani Jarana added that, “This is a call for everyone in the government to be more intentionally when executing the task progress must be achieved today. To the investors thank you for choosing Eastern Cape therefore our commitment to you is to move mountains to clear path for the projects to break-ground within a brief period.”
As the conference concluded attendees expressed optimism about the future of the Eastern Cape and the positive impact these investments will have on the region. The government and its partners remain dedicated to creating an enabling environment that encourages further investments, ensuring sustainable economic growth and prosperity for all.
