Tikzn Signs Mou to Grow Foreign Direct Investment Through Stainless Steel Sector

Monday, August 15, 2011 by Trade & Investment KwaZulu-Natal

Trade & Investment KwaZulu-Natal (TIKZN) will be signing a Memorandum of Understanding (MOU) with Southern Africa Stainless Steel Development Association (SASSDA) on 16 August 2011 at the TIKZN offices.

In keeping with its mandate, Trade & Investment KwaZulu-Natal will not only aim to promote foreign direct investment into the province and assist local companies to access international markets but also aims to promote and highlight in particular, the growth of the stainless steel sector in KwaZulu-Natal.

Stainless Steel's resistance to staining, its low maintenance, low cost, and renowned shine make it perfect for a host of applications. The 2011 export figure for stainless steel is an impressive 315,829 tons.

Construction is the fastest growing sector of the South African economy. The industry is expected to double in size over the next six to seven years, presenting healthy opportunities for stainless steel. The use of stainless in construction is increasing rapidly due to the material's properties, including aesthetics, durability, corrosion resistance, ease of maintenance and fire resistance.

Co-operation under this MOU will include, but is not limited to, the services offered by the two institutions. These services include the facilitation of:

  • Business expansion programmes
  • Business development needs
  • Capacity building of member firms
  • Exchange of information regarding Market Intelligence, Inward Investment
  • Buying Missions, Outward Trade Missions and Trade Leads
  • Market development programmes
  • Seminars/workshops
  • Meeting rooms
  • Access to databases

"The ultimate result of the MOU is to promote collaboration and co-operation in programmes between TIKZN and SASSDA, contributing to the goals and objectives of these respective institutions." said Mr Zamo Gwala, CEO of Trade & Investment KZN. He went on to say, ''the two organisations will work hand in hand to contribute to the growth of the stainless steel sector in KwaZulu-Natal".

For further information about TIKZN and its involvement in the steel industry, please contact Mr Donny Pethan, General Manager: Business Retention and Expansion, Trade & Investment KwaZulu-Natal on (031) 368 9600 or email donny@tikzn.co.za . Alternatively you can visit our website at www.tikzn.co.za.