Proof that SA offers value to investors – Phumla Williams

2014-06-04 17:05

South Africa’s economic development plans are yielding results, says government spokesperson Phumla Williams.

Williams today cited the country’s improved position in AT Kearney’s 2014 Foreign Direct Investment (FDI) Confidence Index as underlining the value South Africa offered to investors.

“The report, which cites South Africa as the only country in Africa on the list of top 25 countries, demonstrates that our country’s blueprint on development is yielding results,” Williams said.

“South Africa offers lucrative value and opportunities for international investor partnerships as the country is uniquely positioned as the gateway to Africa.”

South Africa also boasted a combination of developed First World economic infrastructure and an emergent market economy that gave rise to a healthy entrepreneurial and vibrant investment environment.

South Africa rose to 13th position in AT Kearney’s 2014 index compared with 15th last year and 11th in 2012.

Global management consulting firm AT Kearney released the index after a survey of senior executives from 300 of the world’s leading corporations on the most attractive FDI destinations around the world.

The US maintained its first place, followed by China and Canada.

Africa increased FDI flows by 12% to R512 billion in FDI.

FDI growth in Africa was driven partly by the investment in extractive industries, but manufacturing and services were also seeing an increased interest.

South Africa received R48.3 billion in FDI in 2012 after a high of R62.6 billion in 2011.

Williams said more companies internationally were seeing South Africa as an investment destination of choice.

“The country has a fertile business environment and infrastructure in a number of sectors including finance and telecommunications,” she said.

“South Africa has heeded President Jacob Zuma’s call to focus on changing negative perceptions held by foreign investors and thereby attracting further investment.”

Tax incentives by government announced in 2011 had also contributed to attracting FDI.

“South Africa’s commitment to the renewable energy independent power provider programme has been identified as one of the key drivers of its improved rating on the index,” said Williams.

“The programme has been designed to contribute to increasing the supply of electricity through renewable energy. It is also aimed at addressing socioeconomic and environmentally sustainable growth.”

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