President Ramaphosa to address SA Automotive Week

President Cyril Ramaphosa is expected to address the South Africa Automotive Week on Thursday. The Minister of Trade, Industry and Competition Parks Tau, Minister of Transport Barbara Creecy, Minister of Electricity and Energy Dr Kgosientsho Ramokgopa and Minister of Minerals and Petroleum Resources Gwede Mantashe are expected to accompany the President. 'Government has played a pivotal role in fostering a favourable policy and regulatory environment that has supported growth, transformation, and innovation within the automotive industry. 'The South African Automotive Masterplan (SAAM 2035) sets the objective of growing South Africa's vehicle production to 1% of global output and aims to increase the annual export value of the South African automotive industry from approximately R201 billion in 2019 to R400 billion by 2035. 'The effective functioning of the logistics and infrastructure sector is paramount to maintain competitiveness, as expenses associated with shipping and transportation play a vital rol e to determine the competitiveness of our exports,' the Presidency said in a statement on Tuesday. The week is expected to be held under the theme 'Reimagining the Future, Together: Celebrating 100-Years of Automotive Heritage, Passion, Resilience, and Ingenuity'. 'SA Auto Week is distinguished as Africa's leading and pre-eminent annual automotive thought leadership event bringing together auto industry leaders; global OEMs; vehicle component manufacturers and suppliers; international investors; policy-makers; law-makers; decision-makers; regulatory bodies; and journalists across the entire automotive value chain,' said the Presidency. The South African Automotive Week takes place at the Cape Town International Convention Centre (CTICC) in the Western Cape. Source: South African Government News Agency