South Africa is being re-positioned and re-packaged to attract foreign investment. That is the message that President Cyril Ramaphosa took to the business in New York.
The President participated in a roundtable discussion where he presented a number or initiative aimed at injecting life into the country’s ailing economy. These include a stimulus packaged announced last week which amongst others re-prioritizes government spending towards infrastructure development. He also provided certainty on land redistribution.
“We are working on policy issues to ensure that there is policy certainty and consistently. And this we have arrived at after talking to the business sector, the unions and we all agree that if we address this, we will begin to see the business community looking at South Africa in a different way.
“We are going to an investment conference in October where we hope to raise a hundred billion dollars in the next five years; and we have quite a lot of interest and I invited everyone here who is a would be investor to come to south Africa because we are open to business, we’re open to investment and we are solving a whole lot of things, from corruption to dysfunctional governance,” President Ramaphosa explains.
President #Ramaphosa: An important milestone in this initiative is an Investment Conference to be held in Johannesburg on 26 October. #InvestInSA #UNGA
— PresidencyZA (@PresidencyZA) September 26, 2018
Ramaphosa says foreign direct investment is critical, because it strengthens productive capacity through transfer of technology and knowledge, the creation of job opportunities, improvements in human capital and enhanced production processes.
