Third investment conference ‘about implementation’, says Ramaphosa

Third investment conference ‘about implementation’, says Ramaphosa

President Cyril Ramaphosa says this week’s investment conference in Sandton will be about implementation.

Ramaphosa at investment conference
GCIS

Ramaphosa made the comments in his weekly newsletter on Monday.

 

“This year’s conference is about implementation, and on turning commitments into brick and mortar projects in our cities and towns. It will highlight our progress in driving the economic reforms that are needed to unlock investment and growth.
 

“Investor confidence has been boosted by, among other things, the establishment of the Infrastructure Fund. Confidence is also being improved by our continuing implementation of the structural reforms and the finalisation of industry masterplans in sectors such as clothing and textiles, sugar and the automotive industry.
 
“We will be showcasing our strengths as a country and how these can be leveraged to attract new investment,” he said. 

 

The conference, which was launched by the president in 2018, aims to raise R1.2 trillion in additional investments over the next five years.

 

But Ramaphosa says due to the Covid-19 pandemic many of the investment pledges made at previous conferences have been scaled back.


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“Over the last 10 months, the pandemic forced many promising investments pledged at previous conferences to be scaled back or put on hold. But these investments only amount to about one-tenth of the total investment commitment of R664 billion.

 

“Most of the investments are going ahead. Of the 102 projects that were announced at the last two investment conferences, 12 are in the early stages of implementation, 19 have been launched, and 44 are currently under construction or being rolled out.”

 

The third conference is expected to kick off in Sandton on Wednesday.

 

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