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Pretoria – South Africa has enormous potential as an investment destination that offers promising opportunities in automotive components, aerospace, chemicals and agro-processing, says Trade and Investment Minister Rob Davies. [Read more…]
United Arab Emirates
Pretoria – South Africa has invested R3.33 billion in the United Arab Emirates (UAE) since 2003, making the country the 19th largest investor in the UAE.
Speaking at the SA-UAE Business Forum held in Dubai on Sunday, Trade and Industry Minister Dr Rob Davies said the largest investments were made in the financial services sector, followed by investments in the communications and pharmaceutical sectors. [Read more…]
Bolster industrialisation
Cape Town – As South Africa moves to bolster industrialisation efforts within its own borders, the planned roll out of a giant free trade area across Africa may hit a snag when it comes to negotiating about trade in manufactured goods between member countries, the Minister of Trade and Industry Rob Davies said yesterday. [Read more…]
Vehicle Sales up in September
Pretoria – Vehicle sales in September registered strong gains, the National Association of Automobile Manufacturers (NAAMSA) said.
“[For] September 2011, aggregate industry domestic sales had improved by 12 539 units or 30% to reach 54 364 vehicles from 41 825 vehicles sold during September last year. Sales during the corresponding month last year had been severely depressed by stock shortages as a result of industrial action throughout the industry at the time,” NAAMSA said on Tuesday. [Read more…]
European Union
Mbombela – South Africa and the European Union (EU) concluded their annual summit on a positive note – a sign that they could be closer to resolving their differences.
The two sides, which have disagreed in the past on the approach to a number of issues including Zimbabwe, Libya and the regional trade partnerships, seem to have kissed and made up when they ended the one-day summit on Thursday, held at the Kruger National Park, speaking with one voice. [Read more…]
Pretoria – South Africa is the highest ranked country in sub-Saharan Africa, according to a report by the World Economic Forum (WEF).
“South Africa moves up by four places to attain 50th position this year, remaining the highest-ranked country in sub-Saharan Africa and the second-placed among the BRICS economies. The country benefits from the large size of its economy, particularly by regional standards (it is ranked 25th in the market size pillar),” read the Global Competitiveness Report 2011-2012.
The report was released on Wednesday by the WEF and assesses the ability of countries to provide high levels of prosperity to their citizens, depending on how productively they use available resources.
This year’s report features a record number of 142 economies, including developed and developing nations.
South Africa was found to be doing well on measures of the quality of institutions, property rights and the accountability of its private institutions, among others. [Read more…]
Patrice Motsepe
Pretoria – President Jacob Zuma has called for an end to the squabbles that have led to noticeable divisions within the country’s business sector following a decision recently by the Black Management Forum to cut ties with Business Unity South Africa. [Read more…]
South Africa GDP
Pretoria – The South African economy’s Real Gross Domestic Product (GDP) contracted to 1.3% in the second quarter of 2011, the slowest rate in almost a year.
“Real GDP at market prices increased by 1.3% during the second quarter of 2011 compared with an increase of 4.5% during the first quarter of 2011,” Statistics South Africa (Stats SA) acting executive manager of national accounts, Gerhardt Bouwer, said on Tuesday. [Read more…]
IMF Report
Pretoria – Government says the International Monetary Fund (IMF) report on South Africa is a fair assessment of the fiscal situation in the country.
“Though the government does not share all the views expressed in the IMF report, the report is a fair assessment of the economic conditions in South Africa and will be considered together with similar assessments during policy formulation by the government,” said the National Treasury. [Read more…]
Retail sales grow 2.2% year-on-year
Pretoria – Retail trade sales increased by 2.2% year-on-year in June from a revised 0.2% in May, Statistics South Africa (Stats SA) said.
According to Stats SA, the highest annual growth rate was recorded for retailers in pharmaceutical and medical goods, cosmetics and toiletries, followed by retailers in household furniture, appliances and equipment, and general dealers. [Read more…]
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