Government welcomes the A.T. Kearney’s 2014 Foreign Direct Investment Confidence Index, in which South Africa climbed two spots to become the 13th most attractive destination for foreign direct investment. Government is humbled by this ranking, which shows that South Africa’s strategic partnership with foreign investors is gaining momentum.
Acting GCIS CEO, Phumla Williams, said “The report which cites South Africa as the only country in Africa on the list of top 25 countries, demonstrates that our country’s blueprint on development is yielding results.
South Africa offers lucrative value and opportunities for international investor partnerships, as the country is uniquely positioned as the gateway into Africa. We also boast a distinctive combination of developed first-world economic infrastructure and an emergent market economy that gives rise to a healthy entrepreneurial and vibrant investment environment.”
More companies internationally are finding South Africa as an investment destination of choice; the country has a fertile business environment and infrastructure in a number of sectors including, finance and telecommunications.
“South Africa has heeded President Jacob Zuma’s call to focus on changing negative perceptions held by foreign investors and thereby attract further investment. Our tax relief incentives, announced in 2011, have also contributed in attracting foreign direct investment. The strengthened synergies between government and other strategic stakeholders, like business, are supporting the National Development Plan as it provides policy certainty for investors,” said Williams.
South Africa’s commitment to the Renewable Energy Independent Power Provider Programme has been identified as one of the key drivers of its improved rating on the Index. The programme has been designed to contribute towards increasing the supply of electricity through renewable energy. It is also aimed at addressing socio-economic and environmentally sustainable growth.
“As we celebrate 20 Years of Freedom, South Africans are encouraged to embrace foreign direct investment and join hands with government’s initiatives that aim to achieve the country’s economic vision. This advancement proves that South Africa is indeed a better place to live in,” Williams said.
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