The Acting Head of Investment South Africa, Mr Yunus Hoosen, said it was heartening to see foreign company investing in South Africa and contributing in the country’s economic growth and job creation.
Hoosen was speaking at the launch of South Africa’s first internationally-owned forged wheel manufacturing facility by Lucchini South Africa in Germiston on Friday.
Hoosen emphasised that the R200 million investment by the Italian company was a vote of confidence in the economy of South Africa.
He also said the South African government has placed industrialisation at the heart of its economic growth and development policy. The National Industrialisation Policy Framework, he added, was the principal government policy that has formulated an approach for advancing industrialisation in the country.
“The annual Industrial Policy Action Plan (IPAP) iterations give effect to the vision of the framework, through prioritisation and implementation of specific programmes and projects in achieving industrial policy imperatives. The rail transport equipment sector is one of the key sectors prioritised in IPAP, with great growth potential for the creation of new and decent employment, innovation and business opportunities,” said Hoosen.
