Work on attracting Investments will continue to bear fruit in 2017

Officials of Invest South Africa (InvestSA), an initiative of the Department of Trade and

Industry (the dti) will once again put their shoulder on the wheel this year in order to

attract and facilitate more domestic and foreign direct investments in the country.

We will again be working hard to bring the much-needed investments into the

country throughout this year as part of government’s efforts to achieve full-scale

industrialisation, inclusive economic growth and job creation. The appetite and keenness

of international companies to invest in South Africa were high last year. This is

evidenced by the fact that last year we saw the launch of one multimillion-rand

investment per month from January to December in the country, thereby creating thousands

of jobs for the people of South Africa,rdquo; says the Head of InvestSA, Mr Yunus Hoosen.

He adds that last year’s investments by Beijing Automotive Interactive Corporation (R11

billion), ACWA Power (R5bn), Ford (R2.5bn), Sumitomo Rubber (R2bn), Nestle (R1.2bn),

Cipla (R1.3bn) and Toyota (R500m), provide evidence that SA has not lost its lustre as an

investment destination of choice for multinational companies from various parts of the

world.

InvestSA is an internationally recognised and award-winning division of the dti,

providing a One-Stop-Shop service to investors. This includes investment promotion,

facilitation and aftercare, all of which are geared at fast-tracking projects and

reducing government red-tape. It is also tasked with the responsibility of facilitating

the increase in the quality and quantity of foreign and domestic direct investment by

providing an investment recruitment, problem-solving and information service to retain

and expand investments.

SA is still an attractive investment destination. InvestSA still has a good investment

pipeline. There are a number of investment projects that we will be working on again this

year. More and more investors are keen to invest in this country,rdquo; adds Hoosen.

He reckons that the work of InvestSA as a national investment promotion agency and the

investment profile of South Africa as a country, have been significantly enhanced by the

international recognition that InvestSA received last year. This include the global

winner award for excellence in partnering for investment promotion by the United Nations

Conference on Trade and Development (UNCTAD), and the runner-up award at the Annual

Investors Meeting in Dubai for promoting investment in sustainable development. It was

also recognised by cfi.co, the United Kingdom renowned international business journal,

for its work in attracting investment to South Africa.

In addition to continuing to attract and facilitate investments, we will be embarking on

a mission of establishing One-Stop Shops (OSS) throughout the country. We will be

launching the National One-Stop Shop in Pretoria early this year and then roll out to all

provinces over the next three years,rdquo; says Hoosen.

The OSS will be the focal point of contact in government for all investors to

coordinate and facilitate with the relevant government departments involved in

regulatory, registration, permits and licencing.

Source: The Department of Trade and Industry, South Africa.