SA to call for more investment at Davos

CAPE TOWN/SOUTH AFRICA, 10JUN2009 - Jacob Zuma...

South Africa is to use the 2013 World Economic Forum in Davos, Switzerland to call for more investment in the country and to boost the continent’s infrastructural projects.

The annual gathering of the world’s political, economic and business leaders takes place against the backdrop of a sluggish global economic recovery. President Jacob Zuma, who leads the country’s delegation, arrived this morning and will use the platform to promote the country’s vision for 2030, the National Development Plan.

The gloomy weather over the Davos resort is perhaps a reminder of the current difficult global economic condition. Themed, ‘The Resilient Dynamism’, that is what top leaders hope to achieve as they put together their heads to get the global economy back on its feet.

As South Africa tackles its triple challenges of poverty, inequality and unemployment, it hopes to use the occasion to lure more investments into the country.

via SABC News.com – SA to call for more investment at Davos:Tuesday 22 January 2013.

SA, Nigeria sign accounting agreement

Association of National Accountants of Nigeria

The South African Institute of Professional Accountants (SAIPA) has signed a memorandum of understanding with the Council for the Association of National Accountants of Nigeria to facilitate cooperation and allow members to work in both countries, the institute announced last week.

The memorandum allows members of the one organisation to become members of the other, which will enable South African accountants to work in Nigeria and Nigerian accountants to practice in South Africa.

via SA, Nigeria sign accounting agreement – SouthAfrica.info.

Eastern Cape – Ciskei

Stadium Nelson Mandela Bay, in Port Elizabeth,...

The Eastern Cape as a South African Province came into being in 1994 and incorporated areas from the former Xhosa homelands of the Transkei and Ciskei, together with what was previously part of the Cape Province.

Agriculture

There is much fertile land in the Eastern Cape, and agriculture is important. The fertile Langkloof Valley in the southwest has enormous deciduous fruit orchards, while sheep farming predominates in the Karoo. The Alexandria-Grahamstown area produces pineapples, chicory and dairy products, while coffee and tea are cultivated at Magwa. People in the former Transkei region are dependent on cattle, maize and sorghum-farming. An olive nursery has been developed in collaboration with the University of Fort Hare to form a nucleus of olive production in the Eastern Cape.

The basis of the province’s fishing industry is squid, some recreational and commercial fishing for line fish, the collection of marine resources, and access to line-catches of hake.


Industry

The two major industrial centres, Port Elizabeth and East London have well-developed economies based on the automotive industry. General Motors and Volkswagen both have major assembly lines in the Port Elizabeth area, while East London is dominated by the large DaimlerChrysler plant. The largest construction project in Africa is currently underway at Coega, about 20 km north of Port Elizabeth, where a new harbour is being built. It is expected that this development will give the province a major economic boost.

With two harbours and three airports offering direct flights to the main centres, and an excellent road and rail infrastructure, the province has been earmarked as a key area for growth and economic development. Environmentally friendly projects include the Fish River Spatial Development Initiative, the Wild Coast SDI, and two industrial development zones, the West Bank in East London and, near Port Elizabeth, Coega – the largest infrastructure development in post-apartheid South Africa. Plans for the development of the area as an export-orientated zone include the construction of the deepwater Port of Ngqura.

Other important sectors include finance, real estate, business services, wholesale and retail trade, and hotels and restaurants.

via Eastern Cape – Wikipedia, the free encyclopedia

Use an SA company to trade in the free zone

This is a photo showing the construction of Li...

Dubai International Financial Centre (DIFC)-registered companies will have to be located within the free zone or they will lose their registration, a senior government official has reiterated.

“The UAE’s federal law stipulates that any company registered by a free zone has to have a presence in that free zone and, therefore, it has always been mandatory for any DIFC registered company to be located in the centre or it would lose its registration,” Abdulla Mohammed Al Awar, Chief Executive Officer, DIFC Authority, told ‘Emirates24|7’.

“However, we work closely with the registered firms to ensure that their location transition to DIFC is as smooth as possible and would not disturb their business plans.”

A number of DIFC-registered companies were allowed to conduct business outside its premises due to lack of space in 2007 and 2008 with companies also taking advantage of lower rents than the free zone.

Total leasable commercial space in DIFC’s own buildings stood at 1.217 million square feet as of June 2011, while total commercial office space within third party developers was at 769,000 square feet. Earlier this year, DIFC said about two million square feet of commercial office space was likely to be handed over by third-party developers in the next 18 to 24 months.

This website reported earlier that occupancy level in DIFC Gate District has remained at over 95 per cent, while third-party developments within the free zone have leased 58 per cent of their office space.

Realty agents believe that most of the DIFC-listed companies have already moved base to the third party developments within the free zone  where rents are lower than the Gate District.

A senior official of a company, which moved its office to Liberty House, told this website: “We directly negotiated with the owners and managed to get a good deal… just that we had to sign a long-term lease.”

via DIFC firms must be located within the free zone – Emirates 24/7

South Africa to operate in Oman Free Zone

Pretoria city skyline seen from the aviary at ...

Image via Wikipedia

PRETORIA — An agreement was signed at the Sultanate’s Embassy here to lease a plot of land at Sohar Free Zone to set up a food processing unit to exchange food products between the Sultanate and South Africa.

The agreement was signed in the presence of Khalid bin Sulaiman Ba’omar, Sultanate’s Ambassador to South Africa, representatives from Sohar Port at the free zone, Al Noor Company from the Sultanate, GWK company and Riospin company from South Africa.

The Sohar unit will import fresh food from South Africa, including meat, fish, diary products, fruit and vegetables.

The ambassador affirmed that such projects will develop and boost trade relations between the Sultanate and South Africa.

It will also increase the level of trade exchange, as Johannesburg Fresh Produce Market, which is supervising the project, will receive exports from the Sultanate to re-export them in South African markets.

Last month, during an official session of Oman-South Africa talks the bilateral co-operation between the two countries in tourism and means of promoting the joint co-operation between the Omani tourism companies and their South African counterparts to attract the European tourists heading for South Africa to spend some days in the Sultanate were discussed.

The two sides also discussed enhancing the economic and trade co-operation particularly in the investment field, as well as activating the MoUs and agreements signed between the two countries.

— ONA

via Sultanate, S Africa set up food unit | Oman Observer