A delegation of about 140 officials and entrepreneurs from Zhejiang Province, China, led by the leader of CCPIT Zhejiang and Jinhua Municipal Government, is set to arrive in South Africa to look for investment and co-operation opportunities with the South African business community.
The delegation is set to visit South Africa from September 19 to 23 at Gallagher Convention Centre, Midrand, and has been invited by the National African Federated Chamber Of Commerce and Industry (Nafcoc), working in collaboration with Dr He Liehui, the chairperson of Touchroad International Holdings Group.
The session follows the BRICS Summit which was hosted by South Africa last month, where heads of state from Brazil, Russia, India, China and South Africa met.
Nafcoc secretary-general Gay Mokoena said the purpose of the visit was to present the Chinese business case to potential South African business partners, and the session will see South African businesses being paired with corresponding Chinese businesses in a speed dating session.
According to Mokoena, the event will be used to build a closer relationship between the two countries’ businesses.
“South Africa is one of the main economies on the African continent and has often been said to be the gateway to Africa. This is an opportunity to match Chinese businesses with local business people and help bring much-needed investment into the country.
“This will help us in fighting some of our most critical challenges including unemployment and lack of youth development. More importantly, this will lead to the transfer of key skills into our local economy as we know China is one of the leading technology-producing countries in the world,” said Mokoena.
Liehui said the Chinese business delegation will be looking for investment opportunities in the pharmaceutical and health sectors, renewable energy, communication engineering, toys and baby products, furniture, sanitary and outdoor products.
“In return, the delegation will be looking to procure agricultural, minerals, wines, and cosmetic products from South Africa. Chinese companies have been accused of employing only Chinese citizens even though they are operating in foreign territories,” Liehui said.
According to Liehui, the Chinese investors will be working with South African organisations such as Nafcoc to orient and familiarise themselves with the South African business environment.
Liehui said the Chinese companies were aware of the B-BBEE requirements for investing in South Africa.
“The Chinese investors are aware of the legislation governing business in South Africa. The delegation is interested in investing and trading with South Africa in the spirit of promoting the BRICS objectives.”
BUSINESS REPORT ONLINE