By The Free State Premier Hon. Mxolisi Dukwana remains committed to his aggressive drive to attract investors in the province to boost the economy and create jobs in the divers sectors in the province.
The Free State government has made a few moves on an upward trajectory to attract investors in the province, including China as one of the investors and a multi-billion gas project amongst others.
Dukwana committed to hosting a second investment conference in the Free State to harness investment during his State of the Province Address in 2023, as such, the province will host a second investment conference in February where both indirect foreign and direct investors will be exposed to the numerous investment opportunities available in province.
The Free State has had its own economic challenges over the years, in the third quarter of 2023, the Free State official unemployment rate increased to 38.5%, a jump from 33.8% in the third quarter of 2022. In the third quarter of 2023 there were 727 000 employed people; 3000 jobs were lost in the same quarter.
According to Palesa Chubisi, the Director for Media Strategy and Liaison Services for the Premier’s Office, annually, when quarter three of 2022 and quarter three of 2023 are compared, the province lost 70000 jobs. She says the high unemployment rate is largely due to the contraction of key economic sectors such as mining, manufacturing, and construction.
“The Free State Provincial Government is thus excited to host this significant event, which will build up on the resolutions of the inaugural Investment Conference, which took place in October 2019. The conference will offer an interactive programme that will see government, business, academics, entrepreneurs; local and international investors, experts and other role players discuss the Free State investment opportunities, explore the emerging economic trends and find solutions to investment challenges,” said Chubisi.
Mojalefa Mphapang, the Head of Communications for the Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA), says the investment conference will seek to promote the province as an investment destination of choice and highlight strategic investment opportunities across various sectors. The focus areas are: energy; mining and gas extraction; infrastructure; transport and logistics, as well as tourism.
Mphapang says the Free State Investment Conference will be held under the theme: ‘Harnessing Partnerships and Stimulating Growth and Development Through Investments’.
The Investment conference will be held on the 27 February 2024, at the Centenary Complex at the University of the Free State 7am.
