Stakeholders sign MoU to bolster East London
13 Mar 2019 - by
In a move designed to foster economic growth, the Port of East London has signed a memorandum of understanding (MoU) with the Buffalo City Metropolitan Municipality (BCMM), Transnet National Ports Authority (TNPA) and East London industrial Development Zone Company (ELIDZ).
and surrounding environs, described as one of the “most marginalised regions in South Africa” by, is at the centre of a memorandum of understanding (MoU) for economic growth that leading stakeholders have signed.
The objective of the MoU, which will remain in place for five years, is to “harness the potential of the port and the industrial development zone to foster economic growth and to establish a framework for the parties to engage with one another on strategic issues of mutual significance for the metropolitan area”, a statement said.
Acting TNPA chief executive Nozipho Mdawe said it was imperative to find new ways to bring investments to the harbour.
“We want to heighten efforts to attract local and foreign investors in partnership with the IDZ. This will aid in diversifying the port’s service offering to the market but also extend its current core capabilities of handling key customers, including those in the all-important automotive, manufacturing and agro-processing industries.”