Western Cape MEC for Agriculture, Economic Development and Tourism, Ivan Meyer, says the inaugural Western Cape Investment Summit has set a clear direction for the province’s Growth for Jobs Strategy.
The summit took place from 5-7 November at the Cape Town International Convention Centre.
Six major investment commitments totaling R50 billion were announced during the summit, signaling strong confidence in the province’s economic trajectory.
Meyer said the summit aimed to attract local and foreign investment for provincial infrastructure projects.
“The province is ready to implement R50 billion worth of infrastructure projects following the summit. Investments in infrastructure boost business confidence, promote economic growth, and create jobs,” Meyer explained.
The Western Cape economy recorded a growth rate of 0.5% in 2024, matching the national average. Meyer added that the Growth for Jobs Strategy is driving the province toward achieving its ambitious goal of a R1 trillion economy by 2035.
VOC News
Photo: VOCfm
