2007 / 2008 Annual Report - Eastern Cape Development Corporation

EASTERN CAPE DEVELOPMENT CORPORATION 2007/08PART 3PROGRAMME PERFORMANCEINVESTMENTPROMOTION1 STRATEGIC GOALS2 BUDGETStrategic goals for the sub-programme are:• To attract foreign and local direct investment into the Eastern Cape• To maintain and support existing investmentsBased on the objectives of the PGDP, the unit focuses on the following sectors:• Manufacturing-based potential, which sub-divides into general manufacturing and automotive• Agro-processing, Medicinal and Aromatic plant production, green house Horticulture and Aquaculture• Tourism Infrastructure investment promotion• BPO – Business Process Outsourcing (links to all of the above sectors)These are driven through the following approaches:• Image building activities (Pro-active)• Investment generation activities (Pro-active)• Investor servicing activities (Re-active)• Policy advocacy• Support function to municipalities (Demand driven)ProgrammeSub-programme 2.1:Investment PromotionBudget(R’000’s)13,079( 14,910 incl vat)Actual(R’000’s)%DeviationReason for deviationOverheads 6,556 -23 Provincial Branding projectProjects 3,544is behind schedule (Note:Corporate Services overheadsTotal 10,100R3,002K)3 Outputs and service delivery trends3.1 Investment Promotion performance in 2007/2008MeasurableObjectivesFacilitateInvestmentsPerformance MeasureNumber of newprospectsNumber of newinvestmentsValue of investments(R ‘million) facilitatedPlannedPerformanceActualPerformance%Deviation100 101 +1 Target met28 29 +3 Target metR1,164 million R738.34millionReason for deviation-37 Sea Ark R250m EIA processdelaying start upGreenzone Addo R150 milRezoning of Agric land causingdelaysNumber of Jobs Createdor Saved2027 2177 +7.4 Target met33