Attracting investment primary purpose

EVERY rand invested in our economy by local and international investors helps create new jobs, expand the local market and boost economic activity.

It sets in motion a new wave of growth that filters across our economy.

A growing economy provides us with the means to drive back the triple challenge of unemployment, poverty and inequality. It is, therefore, in the interest of every South African to make our country the destination of choice for investors.

To attract more investment, the government is convening the country’s second Investment Conference, set to take place from November 5-7 at the Sandton Convention Centre.

It builds on the success of the inaugural conference held last year, and sends a clear message that South Africa is open for business.

Moreover, the conference allows potential investors to engage directly with government and business representatives on new investment opportunities.

The first South Africa investment conference was attended by investors, business leaders and organised labour representing a range of industries, including mining, forestry, manufacturing, telecommunications, transport, energy, agro-processing, consumer goods, pharmaceuticals, infrastructure, financial services, energy, ICT and water.

At that conference, investment commitments of about R300 billion were pledged by both domestic and international firms.

That particular gathering kicked off a significant work programme for the country’s investment institutions, such as Invest SA, alongside other government departments and entities.

Through Invest SA, we bring together all government services in one place for prospective investors who want to set up businesses.

The organisation also offers a streamlined registration, administration and authorisation process to ensure businesses get off the ground.

Importantly, it is not preferential treatment, but rather government that is helping companies navigate the regulatory framework.

In removing barriers to start and operate a business, the government is confident that it will enhance the business environment and develop a sustainable and competitive economy.

This time around, the second conference is anchored in a wave of renewal and positive change taking place in our nation. Hence, we once again call upon the international and domestic investors to join us in our new endeavours.

As government, we aim to attract R1.2 trillion in investment by 2023, and have, therefore, introduced several measures over the past 12 months.

In growing our economy, we understand that our destiny is intrinsically linked to that of the rest of the continent. We are already working with several other African countries to grow business, trade and investment opportunities with the rest of the continent. The newly launched African Continental Free Trade Area (AfCFTA) will come into full effect in July next year. This opens up companies located in South Africa to a market of 1.3 billion people.

South Africa is open for investment. We are ready to showcase our new investment prospects in an economy with vast potential.