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South Africa’s economy gets $5m investment from Chinese firm

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South African Trade and Industry Minister Rob Davies has welcomed Chinese electronics manufacturer Hisense’s US$5 million investment.

The investment goes into its refrigeration and television production lines at its Atlantis factory in the Western Cape Province.

Referring to the investment as an “important achievement” on Tuesday, 19 March 2019, Davies said the injection into the plant near Cape Town was proof that South Africa remained an attractive investment destination across all sectors — including advanced manufacturing.

Hisense, a leading global company and a world leader of flat panel television, household appliances and mobile communication, was expanding its plant as it geared for the growth of the fast moving consumer goods sector on the African continent.

“The investment has created 150 quality manufacturing job opportunities to add to the existing 500 employees at the six-year old plant. Moreover, this investment brings Hisense’s total investment in this Atlantis plant to US$32.4 million, which is a significant investment,” Davies said.

During the launch, Davies was informed that the plant has been rated as the best performing plant in the world outside China.

President of Hisense Middle East-Africa Holdings, Jerry Liu, said the new manufacturing lines would not only create 150 new job opportunities but high-level skills development will be at the forefront of the company’s skill development programme.

“As we expand our presence in Southern Africa, Hisense remains committed to providing solutions that will enable growth and sustain economic development,” Liu said.

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