Stability in municipalities key to investment promotion-MEC Xasa
Political stability in municipalities is one of the key prerequisites to attract investors to create jobs and grow the local economy. This was the view of the Cogta MEC Fikile Xasa at the end of the three (3) day Local Economic Development (LED) Partnership Summit held in Buffalo City Metro Municipality.
MEC Xasa the three day summit was an opportunity wherein key stakeholders from the private and public sectors “shared valuable information for collaboration to counter unemployment, inequality and under development.”
“A solid foundation has been laid for sustainable partnerships to grow the Provincial economy through support to municipalities to perform their functions and manage their own affairs. Above all, we must emphasise that political stability and a sound administration in municipalities is the first steps towards attracting the much needed investment opportunities,” said MEC Xasa.
Going forward said MEC Xasa Cogta will present the Post Summit Implementation Plan to the Executive Council of the Eastern Cape Province for authorisation and implementation in January 2018 after adequate consultation has been done.
“The 30 day payment period by all sector departments and municipalities to sustain Small, Medium and Marco Enterprises, will receive vigorous monitoring in the implementation plan,” said MEC Xasa.
He added that Traditional leaders have demonstrated their willingness to participate actively in the development of the Provincial economy.
“We need to identify traditional leaders who are ready to engage in development and provide support to them,” said MEC Xasa.
The Executive Director of the Border Kei Chamber of Business Les Holbrook said the summit offered an opportunity to engage and they have emerged with a clear understanding of the roles and responsibilities as various stakeholders.
“Full marks to Cogta MEC for organising the LED Summit! The value of the Summit will be measured by the implementation of its resolutions,” said Holbrook.
The highlight of the Summit was the signing of Memorandums of Agreements (MoA) between Mohair South Africa with Dr Beyers Naude Local Municipality and COGTA-EC and between COGTA-EC, Raymond Mhlaba Local Municipality and the University of Fort Hare. The MoAs will provide support to municipalities to accelerate the provision of basic services and infrastructure development, amongst other things.
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