Brand South Africa and InvestSA embark on an investment promotion roadshow
BIZCOMMUNITY / 19 MARCH 2019 - 14.11 / STAFF REPORTER
Brand South Africa in collaboration with the Department of Trade and Industry's InvestSA will be embarking on an investment promotion roadshow to Switzerland, Germany, France and India from 19-30 March 2019.
The primary objective of the investment promotion roadshow is to engage with stakeholders from government and business to discuss factors pertinent to enhancing South Africa as a more attractive investment destination partner to these important markets.
General Manager for Global Markets at BrandSA, Dr Judy Smith-Höhn said: "Today, South Africa is one of the most sophisticated, diverse and promising emerging markets globally. Strategically located at the tip of the African continent, and ranked as one of the most powerful economies on the continent, the country is a key investment location, both for the market opportunities that lie within its borders and as a financial services gateway to the rest of the African continent. Overall South Africa performs well in the Natio Brand Index and engaging business in these markets is important for Brand SA. The investment announcements that have been made by companies since the launch of President Ramaphosa’s investment drive attests to our competitiveness profile. It has boosted the economy and positioned South Africa as a key global partner for growth and investment." Acting Deputy Director General for InvestSA, Mr Yunus Hoosen, says the investment promotion roadshow is in alignment with South Africa’s five-year investment drive which seeks to raise R1.2tn in domestic and international investments as a means to reigniting the economy. As part of InvestSA’s mandate to support investors exploring opportunities in South Africa by helping with information, facilitation and aftercare, the roadshow will focus on Preferential Procurement Policy Framework Act, local content, Broad Based Black Economic Empowerment (BBBEE), Equity Eqivalent Investment Program, Intellectual Property and well as update on Protection and Promotion of Investment Act . "South Africa offers a combination of developed first world economic infrastructure and a growing emerging market. Its investment potential lies in its diversity of sectors and industries. It is also a major trading nation, exporting and importing more than $167bn worth of goods every year, from a location that makes it an ideal gateway into African and other global markets. "Our objective as InvestSA is to facilitate the increase in the quality and quantity of foreign and domestic direct investment by providing an investment recruitment, problem-solving and information service to retain and expand investment in South Africa and into Africa. As well as to actively market, promote and facilitate investment in key high-yielding growth sectors of the South African economy," added Hoosen. The India leg of the investment promotion roadshow will be hosted in collaboration with the South African High Commission and the South African Consulate-General, with business engagements scheduled to take place in New Delhi and Mumbai respectively. This visit follows on President Cyril Ramaphosa’s state visit to India in January where a three-year strategic programme of cooperation was signed by both President Ramaphosa and Prime Minister Modi. Switzerland, Germany and France have been long term investors in South Africa with many of their Multinationals located in South Africa. These countries are also key trading partners of South Africa. In addition to its role as an important emerging economy, South Africa is also seen as regional manufacturing hub to other African markets by investors. Apart from the traditional economic sectors for which South Africa is renowned for, new industries and investment opportunities in energy and infrastructure, the information and telecommunication industry, clean tech as well as the health care market are considered attractive future markets for potential investors. About Brand South Africa Brand South Africa is the official marketing agency of South Africa, with a mandate to build the country's brand reputation, in order to improve its global competitiveness. Its aim is also to promote pride and patriotism among South Africans, to contribute to nation building and social cohesion. About InvestSA InvestSA is a division of the South African Department of Trade and Industry (the dti). The InvestSA One Stop Shop initiative is geared towards providing investors with services to fast-track projects and reduce government red tape when establishing a business. It is part of the government’s drive to become investor friendly by improving the business environment by lowering the cost of doing business as well as making the process easier. One Stop Shops house government entities such as the South African Revenue Service (to help with customs and tax), Home Affairs, Environmental Affairs, Eskom and the Companies and Intellectual Properties Commission under one roof.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER