Gauteng Business 2016 edition

PROFILE

PROFILE Gauteng Investment Centre (GIC) The much anticipated Gauteng Investment Centre (GIC) officially launched last year, with a single task in mind; making Gauteng-based business for investors easier. The GIC was set-up to support the Gauteng Provinces’ economic development initiatives as a one-stop-shop for foreign investors and established local businesses where essential government information and services can be accessed from a single platform. The GIC is considered the Province’s key differentiator in offering quicker investor turnaround times. It affords potential investors and exporters efficient services, which expedites investment in the province. Main Purpose The aim of the GIC is to make it easier for investors to do business in Gauteng. The Sandton-based GIC is set to offer a central business services centre that will offer domestic and foreign investors access to all the services they need in a convenient location and from all the various tiers and agencies of government. The goal is to make Gauteng become the preferred location for investment by exposing potential and existing investors and entrepreneurs to appropriate economic information, technology for business registration and overall business support and development services. By simplifying the investment procedure the cost of doing business in Gauteng will lessen and, as a result, will improve the overall competitiveness of local industry in the world market. The centre would also undertake inward investment promotion missions, which would include hosting and coordinating inbound foreign and local business delegations, as well as undertaking outbound missions to promote Gauteng as a premier investment destination. The centre, is managed by the Gauteng Growth and Development Agency (GGDA). Services The GIC draws all the relevant organs of state and state entities/agencies to a single convenient location, from where it co-ordinates and streamlines investment intrests to provide prompt, efficient and transparent services to the investors and exporters by providing the following: GAUTENG BUSINESS 2016 66

PROFILE • World-class facilities where investors can meet and discuss investment opportunities • Investment and trade information of Gauteng as well as in Africa • Project appraisal – provided through collaboration with the Gauteng Growth and Development Agency’s (GGDA) development finance partners in order to assess a case for processing a project or proposal. • Site identification and evaluation • Provide potential investors with sector-specific economic data through the stipulation and dissemination of market intelligence and would, through collaboration with the Department of Trade and Industry – a critical project partner – supply business and work permits • Co-ordinate the involvement of different entities within government on various spheres of government involved in the establishment of a business. • Facilitate investor access to national and local government incentive programmes In summary, the GIC offers all information and research services, complete administrative assistance with business registration, pre-investment support services and investment aftercare. The service delivery outcome will ensure a simplified and shortened administrative process, removing bottlenecks in establishing and running businesses in Gauteng. GIC partners Gauteng Premier Nomvula Mokonyane reported that the GIC will include “services such as company registration, tax registration and investment services and information, which would be provided by [inhouse] representatives from the Companies and Intellectual Property Commission, the South African Revenue Service (Sars), State utilities, State-owned enterprises, municipalities and the Department of Home Affairs (DHA). The GGDA’s CEO Siphiwe Ngwenya added to this, saying “such partnership agreements with district and local municipalities are particularly critical, as many lack the skills and capacity necessary to effectively promote and facilitate investment within their region”. He highlighted, “Given the GGDA’s mandate as the provincial investment promotion agency, our agreements with local government will make for a smoother and more uniform process of engagement with investors”. The companies, organisations and departments working with the GIC are as follows: • Brand South Africa • Companies and Intellectual Property Commission (CIPC) • City of Johannesburg • Department of Trade and Industry • EY & Mercantile Bank • Gauteng Funding Agency • SARS • Westrand District Municipality • Ekurhuleni Metropolitan Municipality • DHA • City of Tshwane • Gauteng Department of Agriculture and Rural Development (AICEP) • Mercantile Bank Reasons to invest in Gauteng There are many reasons why Gauteng has become known as a “Gateway to Africa,” an attractive place for investments on the continent. The province offers: • Access to African markets • Functional national institutions protecting the right of investors 67 GAUTENG BUSINESS 2016