This is an extract from an address by President Jacob Zuma from the South African Delegation (haha, they called themselves “Team South Africa”) at the World Economic Forum in Davos (that’s in Switzerland – but you should know this!):
“We are here to say to investors that South Africa is where they should be‚ and we have very good reasons for saying so. We have a relatively diversified economic base.
We have an economy that offers world class business services in areas such as information and communication technology‚ transport and logistics‚ and financial and professional services.
Our country is becoming a frontier for new sectors of Foreign Direct Investment such as the green economy‚ oil and gas and ocean economy sectors such as shipbuilding.
We are investing time and money in energy security to contribute to economic growth‚ and efforts to expand our energy supply and sources are continuing.
We are diversifying our energy mix and have attracted substantial private sector investment in clean energy‚ through the Renewables Independent Power Producers Programme. This has been a flagship programme for us. It highlights the synergies that can be generated when the public and private sector work together.
The government is currently evaluating bids for coal Independent Power Purchases from the first bid window which will total two thousand five hundred megawatts of power when completed.
The government is also preparing the procurement of three thousand one hundred (3100) megawatts of gas to power.
With regards to the ease of doing business in our country‚ let me emphasise that we have heard the suggestions from business at home and abroad. Domestic and international investors have appealed to government to help ease constraints and unnecessary bureaucratic delays and make South Africa more investor-friendly. In response‚ our Government will be introducing an “Invest South Africa” (InvestSA) initiative during the course of the year (we assume this is 2016).
Work has already begun to establish an interdepartmental clearing house or one stop shop service which will be rolled to all provinces. I have established an Inter-Ministerial Committee on Investment to work on this important project‚ which I personally chair‚ assisted by the Minister of Trade and Industry.
Our government also offers a range of business and investment incentives across various sectors.
These programmes have yielded substantial inward investments over the years‚ most notable in the automotive sector‚ demonstrated by the expansions or new investments that we have seen in recent times in the country.
We are aware that improved communications and predictability of government policy are important to support investment by the private sector. This will be one of the key tasks of the IMC.
Government also decided that from 1 September 2015 all future legislation and regulations will be subject to a socio-economic impact assessment before being passed.
This process will promote greater policy coordination.
Let me reiterate that our National Development Plan Vision 2030 remains our blueprint for socio-economic development and we continue to implement it.
Last year‚ as part of implementing the NDP‚ we introduced a Nine Point Plan to ignite growth and create jobs.
The Plan entails intensive work in the following areas:
a. Revitalisation of the agriculture and agro-processing value-chain;
b. Advancing beneficiation and adding value to our mineral wealth;
c. More effective implementation of a higher impact Industrial Policy Action Plan;
d. Unlocking the potential of SMME‚ co-operatives‚ township and rural enterprises;
e. Resolving the energy challenge;
f. Stabilising the labour market;
g. Scaling-up private-sector investment and
h. Growing the Ocean Economy as well as cross-cutting areas to Reform‚ Boost and Diversify the Economy.
The cross-cutting areas are science‚ technology and innovation‚ water and sanitation‚ Transport infrastructure‚ Broadband rollout and State owned companies.
We want to continue working with you as the business sector‚ to ensure that our economy improves performance in these areas.
We have all the confidence‚ that through the partnerships formulated through WEF and other forums‚ we will continue to strengthen South Africa’s position as a preferred choice for investment.”
