Ramaphosa: SA becoming important investment destination
President Cyril Ramaphosa told the Procter and Gamble South Africa investment launch in Kempton Park on Tuesday that South Africa has become an important investment destination.
This comes in spite of Finance Minister Enoch Godongwana saying during his mini-budget in Parliament last week Your investments are well-placed in SA, and you are one of those companies that believe in South Africa’s growth .
“We do have a growth story, and it’s playing itself out to the world,” Ramaphosa said.
“We’ve become a very important investment destination, and the fact that we were able to hold the AGOA Forum and bring so many countries here and continue to deepen our relationship with the United States of America demonstrates our seriousness not only in promoting that relationship but also showcasing the fact that South Africa has a growth story and we are going places”.
Ramaphosa’s remarks follow South Africa’s hosting of the African Growth and Opportunity Act (AGOA) Forum in Johannesburg last week.
The 3-day summit was aimed at strengthening trade relations between Africa and the United States.
“South Africa remains one of the preferred investment destinations in Africa and is an important gateway for the markets and other business opportunities throughout the continent,” Ramaphosa said.
“So, the AFCFTA (African Continental Free Trade Area) will unlock these opportunities for the development of export markets. It will enhance industrial bases and create a number of manufacturing processes on the continent and also create these very important value chains in our region and across the continent.”
“Now we expect the Continental Free Trade Area to reduce the costs and improve the ease of doing business in Africa, and we want to make the movement of products and processes as well as people seamless as various companies increase their footprints on the continent.”
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