RAMAPHOSA: MERCEDES-BENZ R10 BILLION INVESTMENT INTO SA SHOWS A STATEMENT OF TRUST

East London- President Cyril Ramaphosa has said the government is creating new investment and significant engagement with investors.

Ramaphosa was addressing delegates on Tuesday of auto manufacturer Mercedes-Benz’s announcement of a R10 billion investment in the expansion of its East London plant.

Mercedes- Benz news luxury C-Class model will also be manufactured in East London.

Ramaphosa said the cash injection shows signs that there is positive momentum in targeting their R1.2 trillion investment into the economy.

He said, “This investment is a statement of trust, a statement of confidence that South Africa is indeed a good investment destination and we welcome you for having brought this investment here.”

Member of Mercedes-Benz’s divisional board, Markus Schafer said, “This is an important milestone for Mercedes-Benz, especially for Mercedes-Benz South Africa today and I think a very important milestone for the community, expanding the plant and making the plant ready for the future. This is a sign of trust in the fantastic work force.”

 

Photo Credit- MSN.com

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