The success of many domestic industries in export markets demonstrates our inherent global competitiveness and the huge potential that still exists to grow these industries.
However, to realise that potential, we need to remove the constraints that are hampering the overall competitiveness of our manufacturing industries.
We are forging ahead with the measures I announced in July – alongside the fundamental reform of our energy sector – to resolve the long-standing challenge of reliable electricity supply.
We have made progress in addressing challenges with our rail and port operations.
Several companies have been shortlisted to be considered as partners at the container terminals at the Ports of Durban and Ngqura.
Investments in port and related infrastructure to improve efficiencies will improve the competitiveness of locally manufactured products in global markets.
While foreign direct investment is important for our economy, the greatest demonstration of confidence is when our own companies take that lead.
The realisation of Sappi’s investment here at Umkomaas sends the strongest signal that our home-grown multinationals are taking the lead in investing in our economy.
It demonstrates confidence to other potential investors that this is indeed a favourable place to invest in and to do business.
It shows that you are ready and willing to play your part in developing our communities by employing more people and by giving greater opportunities to small businesses.
This is what partnership looks like. This is what social compacting looks like.
Congratulations once again on this milestone.
I look forward to seeing this project expand and thrive, and to witness its benefits for the people of Umkomaas, the economy of KwaZulu-Natal and the progress of our nation.
I thank you.
Source: The Presidency Republic of South Africa