Investors pledge R81.5 billion in the Free State

Investors pledge R81.5 billion in the Free State

The Free State province has positioned itself as an investment destination of preference with lucrative opportunities that include emerging industries; as such, a number of investors from Africa and across the globe flew into the province last week Tuesday, 27 February 2024, to attend the Free State Investment Conference (FSIC).

Business people, dignitaries and thought leaders attended the conference with the aim to find investment opportunities in the province. Juxtaposed with six provinces and one country, Lesotho, the agricultural province is endowed with much economic potential and become one of the economic hubs in South Africa.

The Free State province Premier Mr Mxolisi Dukwana told the investors about the available opportunities for investment, the projects already underway including the discovery of natural gas and the multi-billion Renergen helium gas project in Virginia, the Letsatsi Solar Park in Bloemfontein; a new opening industry in the green energy space. Opportunities in logistics and taking advantage of the Vaal River economy, the national roads passing through the province, the Special Economic Zones (SEZ) in the province and industrial parks.

The Deputy Minister for the Department of Trade, Industry and Competition (DTIC) Ms Nomalungelo Gina also affirmed the investors that the Free State is a lucrative investment destination with the potential to double its contribution towards the national GDP.

The Minister in the Presidency responsible for Electricity Dr Kgosientsho Ramokgopa endorsed the Free State and said it is ready to for investment in the renewable energy sector as it boast large amounts of sun radiation and can supply the country with renewable energy.

Investors were wooed by the immense opportunities in the Free State, according to Premier Dukwana, they pledged R81.5 billion, particularly in the renewable energy, green mobility and retail sectors.

To ensure success in these investments, Dukwana says a dedicated team from the DTIC and Investment South Africa will work with the province to convert these pledges into actionable investments.

Premier Mxolisi Dukwana says through investment, the province can create more jobs, reduce poverty and inequality. The province has a rich heritage and tourist attraction sites; Dukwana said the province must tap into this industry more aggressively and exploit the available opportunities.

“We must continue our efforts to promote Free State tourism even more aggressively than in the past. Our initiatives such as the Intra Trade Conference (SATOVITO), the 4X4 Eco Challenge and other campaigns, leveraging off our natural resources, provide a platform to strengthen the Free State’s share of the national and international tourism market,” said Mxolisi Dukwana.


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