UN praise for Western Cape's lean‚ green economic machine

20 July 2016 - 17:54 By Dave Chambers

Efforts to turn the Western Cape into the hub of Africa's green economy have won acclaim from the United Nations. The UN Conference on Trade and Development (UNCTAD has given its investment promotion award to the three agencies involved in the campaign‚ which has brought in five foreign manufacturers in the past two years. The most significant investment was $19 million (R272 million) from Spanish multinational Gestamp Renewable Industries in a wind tower manufacturing facility‚ creating nearly 300 new jobs in Atlantis. InvestSA‚ Wesgro and GreenCape received the award in Nairobi‚ Kenya‚ where UNCTAD director James Zhan said they had used "innovative and effective methods to persuade key domestic and international investors". He added: "They offer real examples of how developing countries can benefit from the ability to attract investment‚ likely to make an increasingly important contribution to the socio-economic development." Said Tim Harris‚ head of Wesgro‚ Cape Town and the Western Cape's tourism‚ trade and investment promotion agency: "This type of partnership at various levels of government ensures proper and efficient co-ordination that will have a positive effect on the investment promotion programmes for the country." Other winners included Invest India for targeting and securing large healthcare investment projects with private and public stakeholders; and Lesotho National Development Corporation for its role in forging effective collaboration with strategic partners...

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