THE Coega Development Corporation (CDC) Industrial Development Zone (IDZ) has received a major endorsement from Dr LI Yuanchao, the Vice President of the People’s Republic of China as one of the best IDZ’s in the developing countries.
“I’ve been to many developing countries and industrial development zones the, Coega IDZ is by far the best of them all” – Dr LI Yuanchao, China Vice President.
This comment is one of many positive statements that were made by Dr LI Yuanchao during his visit to the Coega Development Corporation, on the 21st of November 2016.
The visit by the Vice President of the People’s Republic of China follows from the recent Chinese investments, First Automotive Works (FAW), and the Beijing Automobile International Corporation (BAIC). The latter is investing R11 billion in the Nelson Mandela Bay (NMB), in a completely knocked down (CKD) automotive manufacturing plant, located in zone 1 of the Coega IDZ.
Dr Yuanchao also congratulated the Coega Development Corporation on its recent prestigious accolade, after winning the Top Performing Public Service Award in South Africa.
The CDC received this prestigious award, as a Top Performing Public Service organization in South Africa, at the 14th annual National Business Awards, on the 17th of November 2016 at the Emperors Palace in Johannesburg.
The award recognises and applauds National, Provincial and local government, Parastatals and/or agencies that have achieved outstanding results in the last year. This is demonstrated through financial management, environmental and sustainable development, meeting of targets, positive contribution to the economy, innovation, and excellence in fulfilling their service delivery mandate. The Coega IDZ ticked all the boxes, as a deserving recipient of this prestigious award.
The MEC for Economic Development, Environmental Affairs, and Tourism, Sakhumzi Somyo also congratulated the CDC for an outstanding achievement. The Award was presented by the MEC Somyo to the Premier of the Eastern Cape, Phumulo Masualle, who was joined by Dr LI Yuanchao, the Vice President of the People’s Republic of China.
“The CDC is the best performing SEZ’s (Special Economic Zones), and it has done well to win local and national awards in South Africa, we are very proud of this institution,” says Somyo.
“In the last 5 years, the CDC has signed investment deals with 61 new private sector investors, with a combined investment value of R35.8 billion.
In addition, the CDC has 36 operational investors, who have jointly contributed in excess of R6.4 billion in private sector investment in the Coega IDZ,” said Dr Ayanda Vilakazi, CDC’s head of marketing and communications.
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