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BUSINESS CLIMATE SHOWS SIGNS OF LIFE - published 10 Aug 2018

BUSINESS CLIMATE SHOWS SIGNS OF LIFE

Business Confidence Index experiences a lunge for the first time in six months


Business Confidence Index (BCI) lost its momentum during the last six months, with a score of 93.7 points since January 2018. The South African Chamber of Commerce and Industry announced on Wednesday that, the index has shown a positive movement of 94.7 points in July.  The chamber emphasized that the key measure of achieving a positive business climate is the dismissal of economic policy uncertainties and further nourishment of all global relations, which benefit South Africa and its people.

 

CDC`s indefatigable efforts of improving the socio economic conditions of the EC region and South Africa has incarnated the above, with the current construction of the OSHO Cement manufacturing plant valued at R600 million which has generated 250 jobs thus far.  

“Apart from the economic challenges, it is important to have a stable socio-political environment that enhances economic performance and business confidence,” the chamber added.  The Coega SEZ`s increasing investor confidence has since invested in various methods of enhancing the economic performance of the region. The expansion of phase 2 & 3 of Agni Steel manufacturing plant approved by the Department of Economic Development, Environmental Affairs & Tourism (DEDEAT), which created 150 jobs with an additional investment value of R100 million is a manifestation of the continuing strides of the organization to transform the economy.

 

Marketing, Brand and Communications Unit Head, Dr. Ayanda Vilakazi is pleased with the recent announcement from the chamber and concluded by saying “the CDC welcomes the rise of the index, as this speaks to the growth of the economy and appreciation of strides to improve the business climate.  This means that we are gradually working towards achieving targets and objectives of the National Development Plan (NDP)”.

 

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