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Hisense eyes further investments in W Cape – Winde

4th July 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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The Western Cape government has started a second round of talks with the Shanghai-listed Hisense Group around the possibility of the Chinese electronics manufacturer making additional foreign direct investments into the province.

Earlier this month, Hisense opened a R350-million manufacturing plant in Atlantis – one of only three Hisense manufacturing plants based outside China – which was set to create more than 1 000 jobs for residents of the area.

Western Cape Finance, Economic Development and Tourism Minister Alan Winde, who met with Hisense VP Dr Lan Lin on Thursday, in Qingdao, China, said there was a possibility that the company would embark on a second phase of investment into the Western Cape as early as next year.

“Hisense is also considering the establishment of a research and development centre in the province to provide local software developers the opportunity to build applications for the hardware being manufactured at the Hisense factories,” Winde said in a statement, adding that this would afford Hisense greater access to the African market.

Winde added that Qingdao deputy mayor Liu Mingjun said during a meeting on Wednesday that Hisense’s investment in Atlantis had triggered considerable interest among Chinese companies.

“The Hisense deal has been a pioneer for further opportunities for nonresource investments into the Western Cape, an area of particular interest for me,” he commented.

Over the past decade, China has invested R236-million in foreign direct investment projects in the Western Cape.

Last year, the province exported goods worth R1.4-billion to China. This represented a 7.7% increase from 2011.

Winde and provincial Agriculture Minister Gerrit van Rensburg were currently conducting a trade and investment mission to China to promote increased economic opportunities between the two regions.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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