President Jacob Zuma is expected to officially launch Invest SA one-stop shop in the Western Cape next week.
In a joint statement on Thursday, the Department of Trade and Industry, Western Cape provincial government and the WesternCape Investment and Trade and Promotion Agency (Wesgro) said the President will launch the provincial office of Invest SA next Friday.
The aim of the provincial Invest SA office is to provide strategic guidance, reduce regulatory inefficiencies and reduce red tape for all investors looking to invest in the Western Cape.
Trade and Industry Minister Rob Davies said the value-proposition for the provincial one-stop shop (OSS) is the co-ordination and incorporation of the special economic zones, provincial investment agencies, local authorities and the relevant government departments involved in regulatory, registration, permits and licensing matters.
“South Africa has excellent investment opportunities in all sectors of the economy and a host of investment incentives and industrial financing interventions that are aimed at encouraging commercial activity and trade rules that favour a further expansion in South Africa’s burgeoning levels of international trade,” said Minister Davies.
The launch of the first of three provincial offices of Invest SA will take place at Cape Sun Hotel in Cape Town.
President Zuma launched the national Invest SA one-stop shop for investors at the premises of the dti in Tshwane in March. At the time, President Zuma announced that government would open three provincial one-stop shops later in the year. These will be known as InvestSA KZN, InvestSA Gauteng and InvestSA Western Cape.
On Thursday, the dti, together with the provincial government and WESGRO, said the process leading to the launch has been an excellent example of collaboration between different levels of government, with the centre to be jointly operated by the dti with the provincial government and Wesgro.
Reducing red tape
Western Cape Premier Helen Zille said since 2009, the province has worked hard to cut red tape and maximise opportunities for both local and international investors.
“The launch of the dti initiated InvestSA one-stop shop represents further progress in facilitating access to the Western Cape market for those wishing to do business in our province. We thank our Economic Development Department, our trade and investment agency Wesgro, and the national Department of Trade and Industry for their efforts in reaching this major milestone. We look forward to the economic opportunities that will emerge from this one-stop shop,” said Premier Zille.
President Jacob Zuma formally announced the establishment of InvestSA in the State of the Nation Address and also informed business leaders of the initiative in February 2016.
Business people had informed government on many occasions of the difficulties and delays they incur when having to move from one department or institution to another to obtain licences and other services and government has responded through this initiative.
The aim of InvestSA is to provide strategic guidance, reduce regulatory inefficiencies as well as to reduce red tape for all investors looking to invest in South Africa.