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Panel established to attract investments in North West

Last updated on October 1, 2022

North West Premier Kaobitsa Bushy Maape has appointed a panel of experts to help the province lure investments and drive the economy to full recovery.

This will be done through the resuscitation of the Growth and Development Strategy.

“The panel will also be responsible to look at the status of the provincial State-Owned Enterprises (SOEs) and make recommendations to the provincial government on how these institutions can contribute in driving the provincial economy to full recovery.

“With the provincial unemployment rate currently sitting at around thirty-four percent (34 %) government believes SOEs can play a meaningful role in repositioning the provincial economy by partnering with various financial and commercial institutions to attract investments,” the provincial government said on Thursday.

The panel will also be expected to advise government on the feasibility of resuscitating old and abandoned projects by turning them into mega projects.

This includes exploring and devising strategies in initiating new mega projects through various infrastructural projects.

The appointment of these experts forms part of a broader strategy by government to create employment and address the scourge of poverty and income inequalities afflicting many communities across the province.

The Premier said the resuscitation of the Growth and Development Strategy is a step in the right direction to attract investments and create opportunities for locals.

“There is a glimmer of hope in what we are trying to achieve. In the past few months, I have been crisscrossing the province speaking to different stakeholders on how we can resuscitate the economy. All of them have made a commitment to work with us in achieving our intended objectives,” Maape said.

The Premier believes that through infrastructure development the provincial government will be able to respond to a number of challenges confronting the province and reposition the province as a viable destination for investments.

“Through this initiative we will be able to contribute to the province’s Gross domestic product (GDP) and this will in turn create opportunities for upcoming entrepreneurs. Critically this will put us in a better position to create jobs for our people so that they can be self-sufficient,” Maape said.

The panel of experts include professionals from various academic backgrounds as well as industries and organizations.

They will work hand in glove with senior government officials in seeing to the full implementation of the aforementioned plans.

Source: South African Government News Agency

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