China to encourage its companies to invest in South Africa’s special economic zones, says Deputy President Cyril Ramaphosa

Deputy President Cyril Ramaphosa reported in parliament today that China is set to encourage its own companies to invest in South Africa’s   special economic zones.

Deputy President Ramaphosa was fielding questions from Members of Parliament on the outcomes of his recent visit to the Peoples Republic of   China on Wednesday 12 August in Cape Town.

“Among the key outcomes from bilateral discussions was a commitment from China to cooperate with South Africa in promoting industrialisation and improving our economic capacity and ability to create jobs.

“China has agreed and committed to share its experience and expertise on special economic zones, said Deputy President Ramaphosa.

“It has agreed to encourage its companies to invest in South Africa’s special economic zones and science and technology parks. China has also agreed to share its experience and assist South Africa in expediting the implementation of our ocean economy programme, continued Deputy President Ramaphosa.

“An important area of cooperation is in the development of the skills needed for South Africa’s economic growth and development. The area of vocational training was highlighted as important for the implementation of our industrialisation programme. China has offered thousands of training opportunities over the next 5 years”, concluded Deputy President Ramaphosa.