By Nangamso Mabindla
29 September 2005

EAST London this week hosted a group from Singapore, which was in Buffalo City to look at investment opportunities on offer in the 2 800 square kilometre municipal area.

The International Enterprise Singapore Delegation was welcomed to the city by Councillor Luntu Bobo, the portfolio head for local economic development.

Greeting the guests, Bobo said the City was grateful the delegation visited Buffalo City, as it had a lot to learn, to share and to offer in a competitive world where innovation and opportunity were vital to sustain growth.

Singapore, an island of four million people, had many similarities with Buffalo City and South Africa.

"I first want to acknowledge the success of your country in establishing itself as one of the most successful in Asia," Bobo said.

In 1960 the island nation had an unemployment rate of 13 percent, but that had changed and it now had one of the best economies in Asia.

"We yearn to boost our country of 47 million, with unemployment hovering around 30 percent, into a new development curve and manufacture our way out of poverty and economic backwardness, as you have done."

Bobo said that despite its high unemployment rate, Buffalo City had a lot to offer potential investors. Its Industrial Development Zone recently announced a multi-million rand investment in East London.

It also had initiated the Buffalo City Development Agency, which aimed to assist the municipality to alleviate poverty.

"We also have a strong automotive industry and a vast expanse of cheap land situated near the sea," Bobo said. "We also offer the cheapest electricity and water in the world and a vast pool of trainable labour."

The laid-back, leisurely lifestyle and climate were also some of the city's attributes. "I am sure you have heard a lot about our beautiful, 68km coastline," Bobo added.

He urged the delegates to consider partnering the municipality and helping to kick poverty out of Buffalo City.