Today's Labour News

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NaamsaBusinessLive reports that as much as R60bn could be invested in the SA vehicle and component manufacturing industries in the next five years according to Andrew Kirby, President of the National Association of Automobile Manufacturers of SA (Naamsa).  

Kirby, who is CEO of Toyota SA Motors, indicated at the annual Naamsa Conference on 22 August that the investment could be made up by R40bn in direct investments by the seven vehicle manufacturers with an additional R20bn going into component making.  Kirby said the local motor industry was not only leading the drive to increase industrialisation in the country but also employed 407,000 people directly.  In his view, this number could be tripled either directly or indirectly in the overall automotive industry.  Also speaking at the conference, trade, industry and competition minister Ebrahim Patel said the government realised the importance of a healthy and growing motor industry and identified six focus areas to drive the industry forward.  He stated noted that the Motor Industry Masterplan, which was announced last November, by 2035 aimed to grow local vehicle production to 1% of global output, double employment, increase local content to 60%, improve global competitiveness and achieve transformation.

  • Read the full original of the above report at BusinessLive

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