South Africa is in frantic search of foreign investors to boost its economy exposed to turbulences caused by two years of struggle to contain the global pandemic.
The pandemic triggered almost complete shutdown of businesses and production under lockdowns, which threaten economic efforts since the ambitious investment plan was initiated in 2018 under President Cyril Ramaphosa.
To attract foreign investors, South Africa is holding the fourth investment conference (SAIC) on March 24 in Johannesburg.
It will draw participants from both the private and public sectors from the United States, Europe, Asia and inside Africa. In addition, international and regional institutions, development partners and think-tanks will come together to deepen dialogue, share experiences, and discuss business opportunities to boost investment and sustainable development in South Africa.
“The Government has placed investments at the heart of its efforts to achieve its national goal of economic reconstruction and recovery,” explains Phumla Williams, Director General of the Government Communication and Information System Information (GCIS) and South African Cabinet Spokesperson.
New investments, she adds, stimulate economic activity in South Africa and also hold enormous benefits for Southern Africa as a whole. The country is an economic hub and gateway into Africa for various markets and business opportunities, including attracting potential investors and tourists alike.