The stakes are high ahead of the second instalment of the South Africa Investment Conference, with South Africa hoping to mobilise for more investment towards its target of R1.2 trillion in new investments over the next five years.
In its inaugural year, the conference attracted R300 billion worth of investments to the country’s shores – a significant feat that proved the resilience of the country’s economy and the confidence by both domestic and international investors.
The second offering of the investment drive will take place from 5 to 7 November 2019 at the Sandton Convention Centre, to be presided over by President Cyril Ramaphosa.
In his State of the Nation Address (SONA) in June, President Ramaphosa said of the R300-billion investments secured, just over R250 billion worth of projects had entered implementation phase.
To assist the country’s ailing economy, the President also appointed investment envoys to boost investment opportunities.
“At a time of uncertainty, the work of the investment envoys has built important bridges between government and the business community.
“From their feedback, it is clear that much more still needs to be done to improve the investment climate,” said the President during the SONA.
This includes reviewing the way government coordinates work to resolve challenges faced by investors and reforming investment promotion policy and architecture.
In line with this, good progress has been made through the Public-Private Growth Initiative, which is being championed by Cooperative Governance and Traditional Affairs Minister, Nkosazana Dlamini Zuma, Roelf Meyer and Johan van Zyl.
The private sector committed to invest R840 billion in 43 projects over 19 sectors and create 155 000 jobs in the next five years.
In discussions with business, government committed to remove the policy impediments and accelerate implementation of these projects.
President Ramaphosa has said government is urgently working on a set of priority reforms to improve the ease of doing business by “consolidating and streamlining regulatory processes, automating permit and other applications, and reducing the cost of compliance”.