Zuma: work is done every day to improve SA's investment climate

Cape Town - Every day work is done to improve the investment climate in South Africa so that the country can get much-needed investments by local and foreign investors, President Jacob Zuma said at Heritage Day celebrations in Siyabuswa, Mpumalanga on Sunday.

He emphasised that such investments would help South Africans get jobs.

"We have indicated that we will build a better SA for all, through radical socio-economic transformation, ensuring that the ownership, control and management of the economy is de-racialised and is not in the hands of white compatriots only," said Zuma.

"Some aspects of the programme are being implemented already through various programmes such as that of developing black industrialists. There are also projects aimed at opening up space for black people to participate in the manufacturing, mining, tourism, agriculture, oceans economy, water, energy and other sectors as owners and managers."

In Zuma's view, there is still a long way to go and this project requires unity of purpose and action by government and the private sector, to ensure success in building a sustainable economy "that caters for the needs of all and not just a few".

"We trust that the private sector will continue working with us in support of this project," said Zuma.

Transportation

He said work is continuing to improve services such as transportation and to create economic hubs outside of city centres, including in Mpumalanga.

He also mentioned that in 2016, SA signed a cooperation agreement with the People's Republic of China to build the MolotoRail Development Corridor.

"This development is included in a list of projects submitted to the Forum of China-Africa Cooperation (FOCAC)," said Zuma.

"The rail development will provide a public transport system that is user- friendly, less environmentally damaging, cheaper and seamless."

In his view, this is all part of building a better SA and better lives for all.

Zuma is, furthermore, in favour of promoting domestic tourism, as part of the "We Do Tourism" campaign that was launched in May this year.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

ZAR/USD
16.83
(+0.39)
ZAR/GBP
21.31
(+0.19)
ZAR/EUR
19.08
(+0.57)
ZAR/AUD
11.76
(+0.50)
ZAR/JPY
0.16
(+0.42)
Gold
1812.24
(+0.24)
Silver
18.93
(+1.44)
Platinum
835.00
(-1.47)
Brent Crude
43.32
(+0.49)
Palladium
1987.00
(+3.84)
All Share
56287.30
(+0.75)
Top 40
52006.10
(+0.87)
Financial 15
10409.23
(+1.30)
Industrial 25
78115.52
(+0.79)
Resource 10
53111.76
(+0.60)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1860 votes
I am taking a hit, but should be able to recover in the next year
23% - 2437 votes
My finances have been devastated
34% - 3624 votes
It's still too early to know what the full effect will be
25% - 2611 votes
Vote