Lumec developed the Integrated Trade and Investment Strategy (ITIS) for the KwaZulu-Natal province. To develop an integrated strategy required the 2011 Investment Strategy to be updated, and thereafter, integrated into the 2017 Export Strategy.
The first step was creation of a comprehensive situational analysis report. This included an assessment of the KZN economy, cost of doing business in SA and KZN, institutional frameworks, and global best practices. These findings were tested with a board range of stakeholders from both the private and public sector. Thereafter, the strategy was developed along with an implementation plan and monitoring and evaluation (M&E) framework.
The vision of the ITIS is “to position KwaZulu-Natal as a preferred investment destination and primary gateway for trade“. By implementing the strategy, the Province hopes to attract R76 billion in investment, create 68,000 jobs from this investment, and boost exports to R1,3 trillion between 2020 – 2024.
The strategic programmes that will assist guide this vision and meet these targets are:
- Programme 1: Institutional Partnerships, Capacity and Advocacy
- Programme 2: Research and Information Systems
- Programme 3: Export and Investment Promotion and Facilitation
- Programme 4: Exporter Development and Finance
- Programme 5: Business Retention & Expansion