Benefits of Investing in Gauteng March 16th, 2021
Benefits of Investing in Gauteng
It comes as no surprise that Gauteng has the most attractive investment climate on the continent considering it is the business centre of South Africa and the entire southern African region. The gross provincial product of Gauteng accounts for about one third of South Africa's GDP and is larger than many countries around the world.
With the second largest population of any province in South Africa and the largest per capita income, consumer consumption helps drive an economy that is solidly based on highly sophisticated, mature financial, mining and manufacturing sectors.
Just as important as its existing status as the province with the largest and most dynamic economy is the fact that Gauteng's leadership is not the least inclined to sit on the province's laurels. Gauteng is a province on the move. The government has set high standards and goals for itself. In order to get several infrastructure projects set in motion various ambitious plans have been drawn up. Gauteng is where the action is. All roads lead to Gauteng.
Complementing this dynamic economic setting is one of the best business environments in the world - according to several international organizations and studies. For example, the World Bank ranked South Africa among the top 30 in the world for ease of doing business - ahead of Italy, France, China and India. Importantly, South Africa was in the top ten in the investment protection index. Infrastructure
Gauteng's aim is to become Africa's smart province is supported by the quality of its infrastructure which includes: Educational institutions, roads, railways and airlines, sophisticated telecommunication systems as well as research and development facilities.
MANUFACTURING: With almost half of all the country's factories located in the province Gauteng is South Africa's main manufacturing centre.
MINING: Africa's third largest city is Johannesburg. There are 159 mines (44 gold) in Gauteng that together produces a quarter of South Africa's total mineral production. Most of the mining is for gold and accounts for 80 percent of Gauteng's output.
TOURISM: The country's tourism infrastructure is sophisticated and developed, but key opportunities still exists. In Gauteng business tourism creates many jobs in the hospitality industry and is realising enormous revenue for the government.
As South Africa's most urbanised and industrialised province, Gauteng offers many attractive incentives that includes:
1. Highly developed transport system
2. Highly developed communication network
3. Thriving commerce
4. Ample natural and human resources
5. A favourable climate
6. Variety of conference and exhibition centres
7. Plentiful accommodation
8. Exciting shopping malls and entertainment venues
9. Exceptional sports and recreational facilities
GEDA is an agency of distinction and its mission is to promote economic growth, encourage new investment and maximise opportunities for skills transfer and job creation in Gauteng.
Article Source: https://EzineArticles.com/expert/Bessy_Sharp/203859
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