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Government welcomes FDI report

APRIL 21, 2017
Government welcomes FDI report

Government has welcomed A.T. Kearney’s 2017 Foreign Direct Investment Confidence report, which indicates that South Africa is the 25th most attractive destination for foreign direct investment (FDI), the first from the African continent.

In a statement on Thursday, the Government Communication and Information System (GCIS) said improvements in short-term economic prospects and the long-term investment in the country’s manufacturing have been cited as some of the key drivers of South Africa’s improved rating on the index. 

“Government is humbled by this ranking, which shows that South Africa’s strategic partnership with foreign investors is gaining momentum. The report demonstrates that our country’s blueprint on development is yielding results and requires that we strengthen this with also encouraging South Africans to save so that we balance this show of confidence through involving South Africans,” said Communications Minister Ayanda Dlodlo.

Minister Dlodlo said South Africa is considered as a gateway to Africa with lucrative value and opportunities for international investor partnerships, boasting a combination of infrastructure and an emergent market economy that gives rise to a vibrant and entrepreneurial investment environment.

This show of confidence bodes well for the country’s efforts aimed at strengthening economic relations with many regions of the world, which recently saw South Africa hosting delegations from Qatar and Estonia.

South Africa has heeded President Jacob Zuma’s call to focus on changing any negative perceptions held by foreign investors by strengthening synergies within civil society.

UK-US Investor Roadshow

The GCIS said it is optimistic that the current UK-US Investor Roadshow, led by Finance Minister Malusi Gigaba, will bolster these efforts.

“South Africa remains a destination of choice. More than 10 million international tourists arrived in South Africa this past year, a 13% increase to the previous year. This is more than the global average growth rate for the period,” said the GCIS.

SA to host Chinese delegation

Meanwhile, as part of strengthening the country’s economic diplomatic efforts, South Africa will be hosting an incoming Chinese delegation that will be led by Vice Premier Liu Yandong and Arts and Culture Minister Nathi Mthethwa on Monday, 24 April.

The delegation will be hosted at the OR Tambo Building at the Department of International Relations and Cooperation (Dirco) in Pretoria.

The visit is aimed at strengthening the people-to-people exchange pillar of South Africa’s strategic relations with China, which have largely been defined by government-to-government cooperation, business-to-business engagement.

Minister Dlodlo said South Africa welcomes the people-to-people exchange programme and views it as a qualitative advance in South Africa–China relations.

“We acknowledge that people-to-people relations are a core element of the glue that binds societies together,” said Minister Dlodlo.

– SAnews.gov.za