As a destination of choice for investment, there has never been a better time to invest in Cape Town. More companies are choosing the city because we offer the services, infrastructure, sound governance, skilled workforce and political will needed to grow the economy.
Just last year through our targeted approach, R2,6 billion worth of investment was secured, 5 720 jobs were created and 2 048 people were trained by the City’s Special Business Partners (SBPs).
This is the power of partnerships in practice and is likely the reason why Cape Town has the lowest unemployment rate out of all metros. We will continue to collaborate with our SBPs to ensure the residents of Cape Town reap the benefits of these partnerships.
Our expanding world-class airport, our well located harbour with access to African and international markets and our ability to transact land to unlock economic potential, makes Cape Town a prime location for businesses looking to launch their operations internationally.
The Department of Enterprise and Investment focuses exclusively on attracting investment, providing various kinds of specialist support to small and large businesses, as well as investment incentives and skills development so we can help businesses reach their full potential and employ more people.
- Investment facilitation – helps to navigate municipal processes and clear bottlenecks to land investments
- Investment Incentives Policy – financial and non-financial incentives for companies in areas where there is great potential but where obstacles currently exist
- Business retention and expansion services – The Business Hub helps people set up or improve their business. These services include workshops on how to do business with government, smart procurement and supplier development
- Training and skills development – The City invests in skills and training for the high growth sectors. We don’t just train just for the sake of training
For more information on the City’s business brand, Invest Cape Town, run by the Department of Enterprise and Investment, visit www.investcapetown.com
Our economic landscape is resilient precisely because we prioritise and support the high-growth sectors to drive demand that makes business sense.
The sectors that we focus on because they are poised for high-growth include:
- Tourism and Hospitality;
- Business Process Outsourcing sector (call centre operations);
- Sea and Sky economies;
- Tech sector – including PharmaTech;
- Green Tech sector; and
- Clothing and design
There is more work to be done and initiatives that facilitate economic growth and job creation are needed now more than ever. The wider national economic constraints, chief among them is rolling electricity black-outs, have had a terrible impact on business.
As the Mayoral Committee Member responsible for Economic Opportunities, I am always on the lookout for new ways to broaden the economic landscape of the city by growing its depth and diversity.
One of the ways in which the City is pushing to attract investment is by showing the rest of the world – with this video – why there has never been a better time to invest in Cape Town. We have invested in targeted messaging to key source markets across the globe so that Cape Town is front of mind for those businesses looking for the right place to set up and invest.
This video demonstrates the power of working together to present a strong message, that Cape Town is open for business.
Where there is a will, there is a way to make progress possible. The City is committed to creating the right environment to attract local or foreign investment and together, we will continue to make it easier to do business, to grow our economy and create more jobs.