BMW investment a vote of confidence in SA
N Gcwabaza
The ANC Government acknowledges the important role of the motor industry and motor component manufactures in jobs creation, growing the economy, and developing of new technologies. And therefore views BMW`s R2.2 billion investment for a new 3 Series BMW as a vote of confidence in the South African economy by the private sector.
The new 3 Series is expected to create about 600 new jobs in Rosslyn. The automotive industry accounts for about 10% of the country`s manufactured exports and 5% of total exports. South Africa produces 550 000 cars annually.
South Africa is attracting the leading international brand of motor manufacturers not only because of government`s incentives to the sector, but also because the South African industry has consistently met the quality standards required.
The ANC Government`s plan to strengthen port, rail and road infrastructure will further reduce transport and logistical costs to manufacturers, making South Africa an even more competitive investment destination.
