China to invest in South Africa’s Eastern Cape?

A Chinese business delegation from the Zhejiang province has just rounded off a three-day investment drive in the Eastern Cape. They closed off with the signing of eight cooperation project agreements, whilst also indicating interest in developing the Port Saint Johns harbour.

The delegation was led by Zhejiang Governor Yuan Jiajun. It arrived in the Eastern Cape last Monday and during its busy itinerary visited the East London and Coega special economic zones (SEZs).

The visit, which was to strengthen trade relations and explore investment opportunities, was to further cement bilateral relations initiated by former and first Eastern Cape premier Raymond Mhlaba in 1995, aimed at building cooperation in economic development, culture, as well as science and technology.

Some of the eight cooperation agreements signed were between Hangzhou Vocational Technical Training College and the Eastcape Midlands College, which will see the two provinces working together in vehicle and machinery manufacturing, electrical management, marketing and tourism.

According to an article on city-press.news24.com, the Chinese delegation had arrived at a time when his province was implementing its provincial development plan, adding that through this plan the Eastern Cape had identified sectors through which it aims to re-industrialise and boost the provincial economy.


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