BUSINESS

Chinese investment

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Nelson Mandela Bay Municipality received the thumbs up as an area that enjoys investor confidence with the launch of the R600 million FAW Coega Plant and a subsequent high-level Chinese delegation visit to the Office of Executive Mayor Benson Fihla.

President Jacob Zuma said the decision of the international automotive giant to build a plant at Coega IDZ is a vote of confidence in Nelson Mandela Bay and the Eastern Cape Province as a whole.

“This augurs well for South Africa’s ability to gain access to the global vehicle manufacturing industry. I hope that you will surpass your goal of building 5 000 trucks during your first phase. We are looking forward to a fruitful partnership with you,” President Zuma said.

FAW is doing business in South Africa for the last twenty years and the new plant will start a different trajectory for one of the oldest and largest automotive manufacturing companies in China that had a staff complement of 130 000 employees in 2013.

Qin Huanming, Vice President of FAW, said his company provided South African customers with services since 1994 and committed the company to producing environmentally friendly cars for local and international markets.

“We are bound to start a better future together and create a long lasting friendship between South Africa and China,” he added.

After the exciting launch guests had the opportunity to undertake a tour of the new facility and a high level Chinese delegation from Wuxi Municipal People’s Government undertook a visit to the Port Elizabeth City Hall to discuss closer ties with a local delegation led by Nelson Mandela Bay Municipality Executive Mayor Benson Fihla and his deputy, Cllr Thando Ngcolomba.

Both cities agreed that great prospects exist for the Nelson Mandela Bay Municipality and Wuxi to consider mutually beneficial working relations in the automotive industry, arts and culture, tourism and other fronts.

Wang Liren, Vice Chairman of the Standing Committee of Wuxi Municipal People’s Congress, agreed with Deputy Executive Mayor Ngcolomba that both cities must identify officials to do to the ground work to determine which areas of cooperation could be agreed upon.

(Courtesy: Nelson Mandela Bay Municipality)

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