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WHO AND

WHAT IS THE CHINA FAW GROUP CORPORATION?

The China FAW Group Corporation (FAW), based in Changchun Province, is China’s oldest and largest vehicle manufacturer, and over the last fve decades, it has evolved into one of the world’s leading vehicle producers.

In 2010, FAW produced 2 558 166 vehicles, an increase of 31,6% from 2009. This included more than 300 000 trucks, making it the third-largest truck manufacturer in the world. Since its inception, FAW has produced 16 million vehicles and has consistently been a Fortune 500 company.

FAW is also China’s leading exporter of vehicles, and since entering the international market in 1984, it has exported more than 100 000 vehicles to more than 140 countries, including, of course, South Africa where it has recently invested US$ 100 million to build a state-of-the-art vehicle factory in the Eastern Cape region.

FAW has joint venture operations with many of the world’s leading vehicle manufacturers, including Volkswagen, Toyota and Mazda. In 2010 over a million automobiles were sold through these JV operations.

FAW’s core vision is ‘total customer satisfaction’ and the company leaves no stone unturned to ensure that it has the best cutting-edge technologies, production methods and management systems to fulfll this vision.    Source: HYPERLINK “http://www.faw.co.za” www.faw.co.za

LOCAL BUSINESS FORUMS WELCOME CHINESE INVESTMENT

Nelson Mandela Bay Business Chamber Chief Executive, Kevin Hustler, marked the signing of the lease agreement between Chinese automotive company, FAW, and the Coega Development Corporation, as a milestone for Nelson Mandela Bay.

“We compliment the Department of Economic Development (DEDEAT), CDC and FAW on the conclusion of this catalytic investment, as the region can look forward to reaping the fruits of these labours for generations to come. Phase 1 would create some 500 production jobs, including those for FAW technical staff and local skilled labour. A team will be established to investigate the procurement of local content from the automotive component manufacturers over the coming years. As work continues to establish Nelson Mandela Bay and the Port of Ngqura as a continental transhipment hub and gateway to Africa, over 24 billion rand has been committed by Government to this region over the next seven years. This will create a centre of infrastructure investments in the Eastern Cape to support more foreign direct investments of this stature. “

Hustler said the immediate benefts for the city include:

- Design and construction by South African companies, utilising the local labour force,

- Increased ports and logistics activities, - Utility supply,

- Goods and service supplies - Stimulation of the local economy.

NAFCOC-NMB President, Mnyamezeli Dyala, said he was optimistic about the opportunities that the investment by FAW will create for black businesses and SMMEs.

“We are excited about the prospect of job creation. Once the infrastructure is up and running, we will explore the opportunities for our SMME’s to get involved. This is very positive growth for our local economy,” said Dyala.