Question NW2038 to the Minister of Trade, Industry and Competition
11 September 2020 - NW2038
De Freitas, Mr MS to ask the Minister of Trade, Industry and Competition
With reference to his reply to question 555 on 25 May 2020, (a) what are the details of the progress achieved to date for each company and (b) how is the progress (i) monitored and (ii) reported in each case? [
Reply:
Eight (8) companies made commitments totalling R36.2 billion at the previous two South African Investment Conferences held in 2018 and 2019 respectively, as detailed in my reply to question 555.
These are private sectors investments and hence companies do not report progress publicly. However, feedback, monitoring and reporting on progress is facilitated through the project management function of InvestSA, who is in regular communication with the companies who have made investment commitments. InvestSA also facilitates inter-governmental cooperation to help unblock challenges which these projects may be experiencing.
While the economic impact of the COVID-19 pandemic has interrupted progress on some of the investments in the tourism and hospitality sectors, I am advised that a number of projects are under construction.
Further progress will be reported at the 3rd South African Investment Conference, which is expected to be held later this year.