GAUTENG PROVINCIAL GOVERNMENT CUTS RED TAPE FOR INVESTMENT

Thursday, 20 February 2014:

The Gauteng Investment Centre (GIC) was officially launched today in Johannesburg to make it easier for investors to do business in Gauteng.

Launched by Gauteng Premier Nomvula Mokonyane, along with the MEC for Economic Development Mxolisi Eric Xayiya, the GIC offers a one-stop business services centre that will offer domestic and foreign investors access to all the services they need from various tiers and agencies of government in a convenient location.

Premier Mokonyane announced that the GIC would offer quicker investor approval turnaround times. “The establishment of the GIC heeds the call by the investment community to reduce the cost of doing business in Gauteng and simplifies the procedural steps required to invest, without compromising the policy objectives of the various agencies and entities,” she said.

The GIC will offer information and research services, administrative help in getting started, pre-investment support services and aftercare.

“Company registration, tax registration services and information sharing will be available through the Companies and Intellectual Property Commission (CIPIC), SARS, utilities and state-owned enterprises, a number of municipalities and the Department of Home Affairs,” said Mokonyane.

Xayiya said that the significance of the GIC to the Gauteng economy lay in its potential to significantly increase the economic multiplier effects of new investment projects. “By exposing potential and existing investors and entrepreneurs to appropriate economic information, technology for business registration and overall business support and development services, we can reduce the cost of doing business in Gauteng and improve the competitiveness of local industry in the world market, “ he said.

MEDIA STATEMENT

 

The GIC will be managed by the Gauteng Growth and Development Agency (GGDA). Its CEO, Siphiwe Ngwenya, said that agreements have been entered into with local municipalities as well as government departments and the private sector.  

 

"Our partners include  

• Department of Trade and Industry, represented by Trade and Invest SA • SARS • Department of Home Affairs • Companies and Intellectual Property Commission (CIPC) • Brand South Africa •  Gauteng Department of Agriculture and Rural Development (GDARD) •  Gauteng Enterprise Propeller (GEP) •  Gauteng Funding Agency •  City of Joburg •  Ekurhuleni Investor Centre •  Tshwane Economic Development Agency •  West Rand Development Agency • EY (Ernst and Young) • Mercantile Bank • Portuguese Business Development Agency

Without them this centre and its offerings would not be possible. We are very proud and appreciative of these partnerships, which will ensure a better investment environment for all who visit this centre. “

 

“Many district and local municipalities’ lack the skills and capacity necessary to effectively promote and facilitate investment within their region as they do not have a dedicated agency nor is it feasible to procure investment promotion personnel. Given the GGDA’s mandate as the provincial investment promotion agency, our agreements with local government will make for a smoother and more uniform process of engagement with investors,” said Ngwenya.  

The following services will be available at the GIC:

· Project appraisal - provided through collaboration with the GGDA's development finance (DFI) partners in order to assess a case for processing a project or proposal.

· Site identification and evaluation through the investment centre's coordination, pre-planning and evaluation of sites for the agency’s clients, as well as post-investment site visits.

· Sector economic data provision through the stipulation and dissemination of market intelligence regarding sectoral and regional economic data.

· Business permits provided in collaboration with the dti to assist with company registrations and work permits.

· Provision of incentives through facilitating access to national and local government incentives.

· Facilitation of local and foreign business retention, expansion and after-care services.

· Inward and outward investment promotion missions, which include hosted and coordinated inbound foreign and local business delegations, as well as undertaking outbound missions to promote Gauteng as a premier investment destination.

For further information or to contact the GIC, visit www.ggda.co.za

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Contact: Ms Phindile Kunene (Spokesperson/Media Liaison Officer) Tel: (011) 355 8443 Cell: 082 494 2409 E-mail: Phindile.kunene@gauteng.gov.za Follow us on twitter @GautengDED

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