Automotive sector ready to invest in SA’s ailing energy sector: Patel

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Trade, Industry and Competition Minister Ibrahim Patel says South Africa has been able to create a fertile environment for investment which has led to major investments by the automotive sector.

He says over 200 foreign investors were in attendance at this year’s conference with some keen to invest in the country’s ailing energy sector.

Patel spoke to SABC News on the sidelines of the Fifth Investment Conference at Sandton, north of Johannesburg.

“We’ve had challenges, we’ve had obstacles, COVID, floods, civil unrest and all sorts of things.  But we’ve tried to ensure that we create an environment in which investors commit to putting money into this economy. Some of it has been very successful, we’ve had very large multinational corporations investing in industry in South Africa. We’ve launched the new Toyota Cross and the Ford Motor Company has put a billion dollars into their plants here in South Africa and a number of companies.”

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