SA motor industry remains a driving economic force

SA motor industry remains a driving economic force


back you’re still watching si today now the motor industry in South Africa is one of the driving economic forces in the country this industry will feature prominently in President Cyril Ramaphosa s upcoming investments at summit in South Africa president Ramaphosa set a target of attracting a hundred billion rands worth of dollars rather worth of a direct investment over the coming five years as part of efforts to reignite and stimulate job creation the auto industry in South Africa accounts for about seven percent of the GDP and this sector has approved to be one of the highlights through a period of sluggish economic growth while many industries look to cut jobs and are shy to invest the motor industry has done otherwise South Africa produced about 600,000 units in 2017 the majority for export namja predicts an increase to about 850,000 in 2020 BMW has spent more than six billion at its plant in Pretoria since 2015 Volkswagen thought Africa has invested 6.1 billion in new products plant and supplier to develop local content in unique in the Eastern Cape while China’s Beijing Automotive International Corporation is constructing an 11 billion rand facility in the coastal city of Port Elizabeth recetas Bane’s invested 10 billion to expand its East London manufacturing plant to make the next generation c-class vehicles mostly for export although times are tough this is the time to expand and develop to create more jobs okay but if not invested in South Africa if we wouldn’t feel that this country is safe got a great Constitution we believe that our investment is safe we’ve been here for 68 years and we have invested last year significantly into this facility for the new polos and vivos and we could we’ll continue to invest in this country the current discussions are necessary and we believe that what President Rama poza is doing with his team is the right move for this country although General Motors South Africa closed plants is came to the rescue saving one thousand direct jobs and through their dealer network 4,000 jobs Suzie’s investment in South Africa is a sign of confidence in the country and also the opportunities going forward and head issues are not invested in South Africa the consequences of the GM exit would have been quite traumatic the motoring industry is open to the Investment Summit and are showing interest in investing or looking to invest further in South Africa the reporting is ABC News Port Elizabeth


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