{"id":1217,"date":"2018-09-27T12:13:20","date_gmt":"2018-09-27T12:13:20","guid":{"rendered":"https:\/\/www.thebizsense.com\/za\/?p=1217"},"modified":"2018-09-27T12:13:20","modified_gmt":"2018-09-27T12:13:20","slug":"sa-provides-fertile-ground-for-investment","status":"publish","type":"post","link":"https:\/\/www.thebizsense.com\/za\/news\/sa-provides-fertile-ground-for-investment","title":{"rendered":"SA provides fertile ground for investment"},"content":{"rendered":"

\"\"<\/a><\/p>\n

President Cyril Ramaphosa has assured potential investors that South Africa is working hard to provide a conducive environment for investors.<\/p>\n

\u201cGovernment is working with urgency to guide the economy towards a more sustainable growth trajectory and to restore South Africa to investment grade status at all credit rating agencies,\u201d said the President.<\/p>\n

He was speaking at a business seminar on opportunities in South Africa<\/a>, on the margins of the United Nations General Assembly taking place in New York.<\/p>\n

The President also engaged in a roundtable discussion hosted by American businessman, Michael Bloomberg, on investment opportunities in South Africa.<\/p>\n

Addressing investors, the President told delegates that South Africa, in a bid to revive its economy, made new investments into the economy a central priority for government. To achieve this, President Ramaphosa outlined government\u2019s ambitious investment drive to raise $100 billion in new investment over five years.<\/p>\n

\u201cAn important milestone in this initiative is an Investment Conference to be held in Johannesburg on 26 October.<\/p>\n

\u201cThe Investment Conference, which will involve domestic and international investors, provides a platform for would-be investors to seek out opportunities in the South African market,\u201d said the President.<\/p>\n

Reflecting on investment relations with the United States, he highlighted that South Africa is the second largest destination of US investments in Sub-Saharan Africa after Mauritius.<\/p>\n

Total bilateral investment, comprising Foreign Direct Investment, portfolio and other investments, stood at approximately R2.2 trillion in 2016.<\/p>\n

Investments by US companies into South Africa accounted for about 22% of total inward investments from the world.<\/p>\n

There are over 800 US companies doing business in South Africa, accounting for 10% of Gross Domestic Product and employing over 220 000 people.<\/p>\n

\u201cIt is our intention, through this investment drive, to substantially expand the presence of US companies in South Africa.<\/p>\n

\u201cAmong other things, this requires that we improve the investment environment in the country and that we take decisive measures to address the key structural challenges in our economy,\u201d said President Ramaphosa.<\/p>\n

Invest SA<\/strong><\/p>\n

As part of improving South Africa\u2019s investment service to investors, the President highlighted that government established Invest SA to focus on investment promotion and facilitation.<\/p>\n

Invest SA brings together key government departments in a single location to provide specialist advisory services, fast track investment projects and reduce regulatory burdens for investors.<\/p>\n

Stimulus package<\/strong><\/p>\n

President Ramaphosa also reiterated measures announced as part of government\u2019s stimulus package to reignite the economy.<\/p>\n

These include; reprioritisation of public spending to support job creation, the establishment of an Infrastructure Fund, addressing urgent and pressing matters in education and health and investing in municipal social infrastructure improvement.<\/p>\n

Mining Charter<\/strong><\/p>\n

On mining, President Ramaphosa told investors that government has finalised a new Mining Charter in consultation with the mining industry, labour, affected communities and other stakeholders.<\/p>\n

\u201cThis provides clarity on how we will balance the imperatives of growth, sustainability and transformation,\u201d he said.<\/p>\n

Land reform<\/strong><\/p>\n

Speaking on land, President Ramaphosa assured delegates that land reform will be undertaken in a manner that is consistent with the Constitution, enhances agricultural production and food security and promotes economic development.<\/p>\n

\u201cFor generations, black South Africans were denied opportunities to own assets, establish businesses, acquire skills and enter professions.<\/p>\n

\u201cNowhere was this more apparent than in the patterns of ownership and usage of land. The extreme concentration of ownership of land is one of the great impediments to the full realisation of our country\u2019s potential,\u201d said the President.<\/p>\n

The official programme for the UN General Assembly, which has seen world issues come under the spotlight, will wrap up today. \u2013 SAnews.gov.za<\/p>\n","protected":false},"excerpt":{"rendered":"

President Cyril Ramaphosa has assured potential investors that South Africa is working hard to provide a conducive environment for investors.<\/p>\n","protected":false},"author":1,"featured_media":1219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[27,475,1],"tags":[213,15],"class_list":["post-1217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-news","tag-investors","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/posts\/1217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/comments?post=1217"}],"version-history":[{"count":2,"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/posts\/1217\/revisions"}],"predecessor-version":[{"id":1220,"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/posts\/1217\/revisions\/1220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/media\/1219"}],"wp:attachment":[{"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/media?parent=1217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/categories?post=1217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thebizsense.com\/za\/wp-json\/wp\/v2\/tags?post=1217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}