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SA presents poor investment climate for both local and foreign investors: BUSA

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South Africa needs to address infrastructure constraints speedily, especially electricity supply shortages and water if it is to turn the economy around and solve socio-economic challenges.

Delegates at the NEDLAC Summit in Midrand heard that the time for talking had passed and that it was now time to implement plans to grow the economy and create jobs.

Business Unity South Africa (BUSA), representing organised business, says the country needs to prioritise fighting crime and corruption and address the threat of social instability.

Organised business says South Africa presents a poor investment climate for both local and foreign investors. Delegates heard that the energy situation needed urgent attention, with calls for the speedy implementation of the energy plan.

Poor water infrastructure also affects communities and businesses alike. Business says these, along with weak law enforcement and policy uncertainty, need to be addressed to change the picture for the better.

“If we don’t move urgently to implement the president’s announcement, then we will again fall into the trap of having plans and not implementing and the energy situation is probably one of the most critical and urgent issues that we need to deal with, we believe that if we work together we can make that happen,” says BUSA CEO Cas Coovadia.

Labour Minister Thulas Nxesi says it is incorrect to say South Africa is xenophobic. This is with reference to the rise in anti-migrant sentiment, fuelled by the competition for resources and economic opportunities.

Nxesi says the labour migration policy will help solve this problem. “There is no xenophobia in SA people just exaggerate when they do not want to do research, the fight is over the scarce resources between the poor and I want to say we have proposed a labour migration policy which talks to 4 or 5 issues. Which one…all workers national or foreign have a right to…and respect the constitution of this country.”

Organised labour on the other hand is calling for the reform of labour laws to keep up with the changing world of work brought about by covid-19.

“How do you enforce the 40 or 48-hour week at home? It’s very difficult. Nxesi mentioned the case workers injured while working from home, how do you claim for compensation…they’ll be left behind if we are honest who work remotely,” argues Cosatu’s Matthew Parks.

The community constituency says there is a need for a new social compact and it should prioritise economic growth, job creation and social relief to fight hunger in communities.

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