Deputy Minister promotes SA as key investment location
Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe, has been promoting South Africa as an investment destination at the Investment Seminar held in Shanghai, China. The deputy minister said that South Africa was an ideal launch pad for investors wanting to have access to the Southern African Development Community (SADC) with its 250 million people as well as Africa’s east coast.
The full press release of the minister’s remarks as published on the South African Department of Trade and Industry website is as follows:
“South Africa is a Key Investment Location – Thabethe
South Africa is one of the most sophisticated, diverse and promising emerging markets globally. This was said by the Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe while addressing the Investment Seminar held in Shanghai, China, as part of the South African Expos in China 2013.
According to Thabethe, the fact that South Africa is located at the tip of the African continent makes it a key location for investment for both the market opportunities that lie within its borders and as a gateway to the rest of the continent.
“Investors coming to invest in South Africa have an opportunity to reach out to the nearly 1-billion market which is based in the continent of Africa”, she said.
Thabethe told the investors that South Africa was ideally positioned for access to the Southern African Development Community (SADC), with a combined market of over 250 million people as well as the islands of Africa’s east coast, even the Gulf States and India.
“South Africa is a trans-shipment point between the emerging markets of Central and South America and South East Asia. Major shipping lanes pass along the South African coastline in the South Atlantic and Indian oceans, and its seven commercial ports form the largest, best equipped and most efficient network on the continent”, she added.
Deputy Minister Thabethe informed the investors about the initiatives to support investment in the country which include incentives provided by government for value-added manufacturing projects, support for industrial innovation, improved access to finance and an enabling environment created for small business development. She said Industrial Development Zones (IDZ’s) have been established in close proximity to major port and airports, offering world-class infrastructure, dedicated customs support and reduced taxation.
“Africa is seen as the next great growth story after China and India, and this growth is creating substantial new business opportunities for global companies. There are enormous opportunities in our country and the continent at large, particularly for upgrading existing or new investments in manufacturing across a range of sectors and in infrastructure development,” she acclaimed.
Thabethe announced that South Africa had adopted a National Infrastructure Plan in 2012 that intends to transform the country’s economic landscape while simultaneously creating significant numbers of new jobs. She added that this plan is critical in promoting balanced economic development, unlocking economic opportunities, promoting mineral extractions and beneficiation, also for addressing socio-economic needs, promoting job creation as well as assisting with integration of human settlements and economic development.
“Government will over the three years from 2013/14 invest R827 billion in the building of new, and the upgrading of existing infrastructure. The plan provides a number of opportunities for companies to partner and do business in that regard,” she said.
The South African delegation arrived in China last week being led by the Minister of Trade and Industry, Dr Rob Davies. 62 business delegation participated in the 17th annual China International Fair for Investment and Trade (CIFIT) that took place in Xiamen, from 8-11 September 2013. The event was followed by the South African Expos in China which is an annual event aimed at executing South Africa’s strategic objectives focussing on the Top 10 value added products and investment projects. The last leg of the Expos commences in Beijing tomorrow.