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Mayor promotes investment in City
EThekwini Mayor Councillor Mxolisi Kaunda visited the LG Electronics manufacturing plant on 18 September as part of the City’s Economic Recovery Plan to unlock R14 million of foreign direct investment which was committed to by investors prior to the Covid-19 pandemic.

His visit to the R1.5 billion manufacturing plant in Cornubia was to establish how the company has been affected by the Covid-19 pandemic.

He said: “Today we staged a courtesy visit to LG Electronics based in Cornubia. As a result of the tough economic climate there has been a number of job losses as most companies have not been able to stay afloat. When lockdown began, the City developed the Economic Recovery Plan to mitigate the impact of the pandemic on the economy. One of the pillars of the plan was to unlock over R10 billion in foreign direct investment. This visit is part of ascertaining whether major investors, who are committed to investing in our City, are being taken care of and have the necessary support in order to sustain jobs that have been created.”

Mayor Kaunda said over the past few weeks he has had a series of engagements with investors who have committed to retaining their investment in the City.  “We applaud this commitment as it will go a long way towards boosting our economy and saving jobs that were at risk of being lost during the Covid-19 lockdown.”

He said meeting with major investors to discuss current and future investments in the City is critical to demonstrate to investors that Durban is open for business.

Simphiwe.dlamini@durban.gov.za
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