SA deep­ens re­la­tions with Ja­pan

Vuk'uzenzele - - Gryeonluaetrihaonlfsoc/ Uafsrica -

Eco­nomic co­op­er­a­tion was at the core of the De­part­ment of Trade and In­dus­try’s (dti) in­vest­ment mis­sion to Ja­pan.

The dti em­barked on the week­long trade mis­sion to the is­land na­tion with Pres­i­den­tial in­vest­ment en­voy Phumzile Lan­geni.

The visit to Tokyo is in line with Pres­i­dent Cyril Ramaphosa’s in­vest­ment drive to at­tract $100 bil­lion worth of in­vest­ments into the South African econ­omy over five years.

Pres­i­dent Ramaphosa ap­pointed four pres­i­den­tial in­vest­ment en­voys in sup­port of gov­ern­ment’s in­vest­ment drive.

Trade and In­dus­try Min­is­ter Rob Davies said the mis­sion was to en­gage and in­crease the aware­ness of the sec­toral value propo­si­tion to Ja­panese com­pa­nies - some of whom are al­ready ex­celling in South Africa and to en­cour­age the com­pa­nies to both in­vest and ex­pand in South Africa.

He said it would fur­ther deepen the eco­nomic co­op­er­a­tion and pro­vide an op­por­tu­nity for part­ner­ships, joint ven­tures and sup­plier de­vel­op­ment be­tween Ja­pan and South Africa.

Ja­pan has al­ways been a long-term Top 10 in­vest­ment part­ner of South Africa. Ja­pan has more than 140 com­pa­nies op­er­at­ing in South Africa such as Toy­ota, Nis­san, NGK, Su­mit­omo Rub­ber In­dus­tries, amongst oth­ers, and finds South Africa as re­gional man­u­fac­tur­ing hub into Africa.

“The del­e­gates will meet with lead­ing Ja­panese com­pa­nies op­er­at­ing in var­i­ous sec­tors such as bank­ing, as­set man­age­ment and au­to­mo­tives, in­clud­ing the orig­i­nal equip­ment man­u­fac­tur­ers,” said Davies.

South Africa, he said, seeks to de­rive value from its his­tor­i­cally cor­dial bi­lat­eral re­la­tions with Ja­pan, as South Africa em­barks on in­dus­tri­al­i­sa­tion and de­vel­op­ing re­gional value-chains.

The del­e­ga­tion also in­cludes act­ing Head of In­vest South Africa Yunus Hoosen. The del­e­ga­tion will en­gage with Ja­panese gov­ern­ment, busi­ness fed­er­a­tions, Ja­panese gov­ern­ment agen­cies, bank­ing in­sti­tu­tions, as well as cur­rent and po­ten­tial in­vestors.

Ja­pan views South Africa as a re­gional man­u­fac­tur­ing hub into Africa.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.