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PRESS RELEASE FROM THE OFFICE OF THE PREMIER, WESTERN CAPE
The Western Cape economy has received a financial boost of R180 million with the establishment of a ceramics insulator factory in Cape Town. The Premier, Mr Gerald Morkel, played host to the Japanese investors at his residence last night.
Mr Morkel said the R180 million is a significant investment, but that the 91 newly created job opportunities was even more important in a province which was struggling to make inroads in its unemployment backlog. He said at present the foreign direct investment of R1,4 billion is reason for confidence in the future. "I consider the Western Cape to be a world class province and therefore believe we should be playing in a competing global market. We are in the same league as New South Wales, British Columbia, North Carolina and many more. Our competition should not be KwaZulu-Natal or Gauteng."
"We are successful because our people and the diversity of our provincial economy. This is our big strength - our diversity. Unlike some provinces, we are not totally reliant on natural resources such as mining. Just look at the success over the last year of our industries as diverse as film making, IT, financial services and boat-building. And now we also have NGK Ceramics!".
NGK Ceramics SA will be officially opened on Friday.
Enquiries: Chris Koole, 082 774 3462
Issued by the Office of the Premier, Western Cape, 1 February 2001