The Umhlanga skyline glitters brighter tonight as an iconic global brand, Radisson Blu, rolls out the blue carpet.

We gather here with great enthusiasm to celebrate one of the most significant investments in the economy of KwaZulu-Natal.

When we started out the term of the sixth democratic administration, stimulating economic growth was tabled as a key objective.

Government developed strategic plans for the short and medium terms to propel economic growth.

The longer term vision is contained in the Provincial Growth and Development Strategy (PGDS) and the National Development Plan (NDP).

There’s a strategy that football coaches use that has a powerful resonance with economic planning. Don’t run to where the ball is. Run to where the ball will be kicked next.

As KwaZulu-Natal, whatever the challenges of COVID-19, civil unrest or the destruction brought by climate change, we are always looking forward, to the future, to the ball kicked in the direction of the goal.

At the centre of our plan is the mission to, among others:

1. Build a stable and conducive environment for business to thrive;

2. Support businesses affected by Covid-19, the July 2021 unrest and the 2022 flood disaster;

3. Build investor confidence;

4. Resuscitate the tourism industry;

5. Boost domestic tourism through government crafted activities;

6. Package tourism marketing focused on major sporting events; and

7. Engage in business promotion to restore business confidence.

The challenges we face as KwaZulu-Natal are without precedent.

While from March 2020 the country faced the consequences of a shutdown occasioned by Covid-19, in July 2021 KwaZulu-Natal also had to deal with a devastating civil unrest.

This meant that when we were hit by the floods this April and May, the province was already carrying a massive social and economic burden.

Among the hardest hit sectors in terms of loss of business and job losses was the tourism and hospitality industry. Tourism is a backbone of the KwaZulu-Natal economy.

We salute your courage, your resilience and the energy that you have brought to bouncing back.

The floods have stretched our limited financial resources. Still, our only choice is to strap our boots and move forward.

The floods have also regressed the provincial economy further.

The estimated financial impact of the floods on economic and social infrastructure is around R20 billion.

A survey by the Department of Trade, Industry and Competition shows that at least 826 companies were affected with damages estimated at R6.4 billion.

The majority of affected businesses are in agriculture and manufacturing.

An amazing outcome of these past several months is how business, the non-governmental sector and the diplomatic corps have rallied with government to ensure that humanitarian relief gets urgently to where it is needed most.

That productive partnership supports our recovery, rebuilding and economic re-orientation programme and is aligned with the KZN Growth Coalition objectives which includes the need to drive socio-economic transformation.

This Province is a testament to hope and faith.

Together we are growing KwaZulu-Natal. Together we are moving forward.

Your Majesty, this hotel and the wider R4.5 billion Oceans development ticks all the boxes of stimulating and propelling economic growth and more.

Radisson Blu is the silver lining for the KwaZulu-Natal economy after a cruel season.

Radisson Blu is an African dream - the magic of new beginnings.

Please allow us to extend our heartiest congratulations and good wishes to Mr Vivian Reddy and the development consortium he has mobilised.

This project will catapult the growth triad of Umhlanga, Dube Tradeport and the Zimbali northern corridor to even greater heights as a blue chip investment destination.

We are reliably advised that in the days and weeks ahead, several more announcements will be made about other global luxury brands that will establish a footprint in KwaZulu-Natal.

Let us assure you that your confidence in the KwaZulu-Natal economy is well placed.

Mega investments open other doors and pave the doors for more successful projects. Vulindlela – you as the pioneering investors are opening new pathways to spur on economic transformation.

Radisson has already seen the potential of a defined footprint on the African continent. We are delighted that several of those owners are with us this evening. We welcome you and trust that you will be eyeing further investment opportunities in this region.

We are proud of the fact that South Africa is recognised as having certain fundamentals firmly in place.

As a democratic administration we have held timetabled free and fair elections since the defeat of the apartheid regime in 1994.

Good governance and building a capable, ethical and developmental state guide our conduct and implementation agenda.

The legislature, executive and judiciary function independently of each other even though contestation is a healthy aspect of any democratic system.

Infrastructure especially transport networks and a credible banking and financial system are all at high sound level like in the developed world.

KwaZulu-Natal and South Africa is a safe, productive investment destination with yields that compare very favourably with other emerging markets.

After all the challenges we have faced, be assured that KwaZulu-Natal is bouncing back.

Radisson Blu is in pole position on that resurgent wave.

Once again, Congratulations on this launch and every success going forward.

And thank you again for taking a lead in expressing your vote of confidence in the provincial economy.

KwaZulu-Natal is open for business.

Together building back better!

I thank you.