Premier Mbhazima Shilowa says Gauteng`s Blue IQ project is achieving its goal of attracting investment and development in the province.
Blue IQ is a multibillion-rand initiative of the Gauteng Provincial Government to develop economic infrastructure for specific major projects in smart (hi-tech) industries, manufacturing and tourism.
In his state of the province address at the opening of the Gauteng Legislature yesterday, the premier said: "The flagship projects under the banner of Blue IQ have attracted and will continue to attract new investment, stimulate GGP [gross geographic product] growth and help realise the potential we have to become a foremost global city region."
Shilowa said the shift to smart industries and high-value manufacturing is important, as Gauteng`s position as a key regional economic powerhouse, contributing over one-third of the country`s gross domestic product (GDP) and one-tenth of Africa`s GDP "places enormous responsibility on us to optimise the economic growth and development in our province".
"While most of the country`s business headquarters are based in Gauteng, we are increasingly also becoming the starting point for international investors who wish to enter Africa."
Shilowa noted that the Innovation Hub due to open in Midrand in April is a "stepping-stone to a better Gauteng".
The hub will be SA`s first internationally accredited science park, and will group hi-tech businesses together to promote modernisation and campaign the development of new ideas. This is expected to add value to Gauteng as the country`s 'smart` province and present SA as a competitive economy in the hi-tech sector.
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