Cape Town Among Leading City Investment Magnets

The City never seizes to impress.

Last Updated: 21 December 2016

Cape Town ranks 21st in an international survey of leading cities, in terms of its strategy to attract foreign direct investment. Cape Town is the only African city who was given this accolade. Other international cities listed are Edinburgh, Hong Kong and Chicago.

Foreign Direct Investment (FDI) Intelligence has named  the Mother City as one of the top cities worldwide in their Global Cities of the future list for 2016/17. Deputy Mayor Ian Neilson was ecstatic about the acknowledgment Cape Town received. “This accolade is indeed a massive feather in Cape Town’s cap as it recognises all the ongoing efforts made by the City and its private sector partners to ensure that Cape Town is on the international map for business and investment,” said Neilson.

The deputy mayor explained that the city contributes to economic growth by providing stable governance, clear policy direction and delivery of infrastructure, support services, investment promotion, facilitation, economic research and by striving to reduce the administrative burden of doing business. “Attracting investment has been part of our strategy since 2006 where we set out to engage with the international community to promote Cape Town as an ideal place to invest in so that we can create much-needed jobs for our people.”

Alderman Ian Neilson is ecstatic about the acknowledgement Cape Town received.

Cape Town launched Invest Cape Town, an initiative aimed at sharing with the world the economic successes and attractiveness of the city and why it isa globally competitive business destination. “Encouraging investment and development is one of the key features of our City development strategy,” Neilson added.

The strategy used by the city is paying off, with a number of companies setting up their headquarters in Cape Town. “We are the green hub of Africa, accounting for most of the local manufacturing for the national renewable energy programme,” said Executive Deputy Mayor, Alderman Ian Neilson.

By Garth Prins

Source Credit: City of Cape Town

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