Finance and Economic Opportunities
With regard to trade and investment promotion by the Department of Economic Development and Tourism:
(a) How much has been spent on investment promotion as part of the Western Cape Investment Strategy by her Department to date in the 2022/23 financial year,
(b) what is the total amount of new business investment in the province because of the Western Cape Investment Strategy so far in the 2022/23 financial year,
(c) how many jobs is this investment expected to create and
(d) what are the details of the programmes through which the Western Cape Investment Strategy aims to facilitate and promote investment in the Western Cape?
[a] How much has been spent on investment promotion as part of the Western Cape Investment Strategy by her Department to date in the 2022/23 financial year,
The budget allocated towards investment promotion activities for the current financial year from the Department of Economic Development and Tourism, is R22 million.
[b] what is the total amount of new business investment in the province because of the Western Cape Investment Strategy so far in the 2022/23 financial year,
Investment declarations are reported quarterly, and the first quarter’s results have not been finalised as yet.
[c] how many jobs is this investment expected to create; and
Investment declarations are reported quarterly, and the first quarter’s results have not been finalised as yet.
[d] what are the details of the programmes through which the Western Cape Investment Strategy aims to facilitate and promote investment in the Western Cape?
Wesgro will continue to deliver on Investment Promotion.
The following activities will be undertaken for the 2022/23 financial year are:
- Development and maintenance of an investment recruitment pipeline
- Issue resolutions for operational investors
- Advocacy for investor challenges
- Undertaking outward missions (physical or virtual)
- Hosting international business journalists to showcase the Western Cape as an attractive investment destination for effective global positioning
- Host business networking events to foster linkages and spill-overs for local investors
- Generate leads through in-market advisory firms to identify and quantify leads as part of a global lead generation campaign
- Host inward investment missions
- Manage the Invest SA One Stop Shop, focusing on the resolution of regulatory issues for investors
- Manage the District Unit focusing on:
- Hosting economic promotion capacity workshops
- The district-specific export advancement programme
- One-on-one mentorship for identified businesses
- Film readiness workshop
