Cabinet has welcomed the launch of the First Automotive Works (FAW) South Africa assembly plant and operations in the Coega Industrial Development Zone (IDZ) in the Nelson Mandela Bay Metro in the Eastern Cape.
The R600-million truck assembly, which is being launched today by President Jacob Zuma, is located in Zone 2 of the Coega IDZ and funded jointly by the China FAW Group Corporation and China-Africa Development Fund.
It is one of the largest investments made by a Chinese company in South Africa.
The initiative is part of government’s interventions to make manufacturing an important pillar of the economy, and will help to further shore up foreign investor confidence in South Africa.
Addressing the media on Thursday, following Cabinet’s regular meeting, Communications Minister Faith Muthambi said the FAW plant will contribute significantly to the national goals of socio-economic development, as envisioned in the National Development Plan, New Growth Path and the Industrial Policy Action Plans.
“Benefits to the Nelson Mandela Bay and the greater Eastern Cape region include generation of foreign direct investment, which will in turn create sustainable jobs and provide opportunities for skills development and training,” Minister Muthambi highlighted.
Meanwhile, the minister said Cabinet condemned the theft of cables from rail, electrical and municipal public infrastructure, as this interrupted the running of the economy.
“Such thefts hamper the smooth running of the economy of the country and in some instances, jeopardise the lives of people. The law enforcement agencies will ensure those arrested face the full might of the law,” Minister Muthambi warned.
Cabinet further reiterated its commitment to clamp down on scrap metal companies that feed off and fuel this crime.
Minister Muthambi further urged communities to work together with government by reporting cable theft to the police.
Article source: http://allafrica.com/stories/201407101401.html