Manufacturing Round Table meets to discuss economic growth

Mayor Cyril Xaba has pledged to work with the private sector, provincial and national public role players to build an inclusive local economy through the manufacturing sector.

Participating in the eThekwini Manufacturing Round Table held at the Durban Inkosi Albert Luthuli International Convention Centre (ICC) last week, Mr Xaba assured industry leaders that the city will continue to create a conducive environment for business to thrive in eThekwini. The aim of the Manufacturing Round Table was to discuss the impact and growth of the sector in the municipality.

Manufacturing is a critical sector in eThekwini’s economy, accounting for over 176 000 jobs and 16% share of the local economy.

Mr Xaba said the city’s main task is to facilitate the ease of doing business and remove red tape to make it easier for business to invest in eThekwini.

“With some of the largest manufacturers in South Africa operating in the municipality and a rich ecosystem of small and medium businesses, the industrial sector offers a significant opportunity for value addition, job creation and export potential – if we can overcome hurdles to growth,” Mr Xaba said.

“The manufacturing sector and industrial areas play a strategic and significant role in the local and global economy. The city generates 50% of its revenue from industrial areas.”

Economic Development and Planning Committee chairperson Thembo Ntuli agreed with Mr Xaba.

He said the industrial sector offers significant opportunities for value addition, job creation and export potential with the aim of boosting the economy in the eThekwini Municipality.