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Billion Rand Investment into Atlantis
International investors choose Cape Town for manufacturing facility.
Last Update 02 March 2017
The City of Cape Town’s Mayor, Patricia de Lille announced in a press conference on 1 March 2017, that PEGAS NONWOVENS, a Czech non-woven fabrics manufacturer had chosen the Mother City as their investment location. The investment is set to fund a state-of-the-art manufacturing facility that will be built in Atlantis.
The investment comes after fDi Intelligence - a division of the Financial Times, ranked Cape Town as 21st in the world on the list of cities with the best foreign direct investment strategies. Mayor de Lille stated that this was a result of approaches they implemented in 2011, as well as the 2012 Economic Growth Strategy which set out the key intervention areas for investment opportunities. The continued work in these areas have made the city a favourable option for foreign investment.
Mayor de Lille stated that, “Through selecting Cape Town, you have signalled great confidence in our region as a safe investment location”. She further added that the city was open for business and that its aim remains to fast-track and facilitate investments successfully.
Congratulations to #PEGAS for furthering their international expansion. Now Cape Town is part of their journey towards even greater success.— Patricia de Lille (@PatriciaDeLille) March 1, 2017
The city has announced that a multidisciplinary team will provide assistance and support.. Cape Town’s Enterprise and Investment team will ensure PEGAS NONWOVENS begin their development project with ease. The Atlantis investment facilitation office will be in full support especially in terms of the current service delivery mandate.
The result of this will mean an investment of more than R1 billion into Cape Town and the lives of residents who will gain job opportunities and skills improvement.
By Tarina Meiring
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