Cape Town is the only African city to have been listed as one of the top cities worldwide on the Global Cities of the Future winners 2016/17 for foreign direct investment (FDI) strategy, according to Foreign Direct Investment (fDi) Intelligence.
The mother city was ranked 21st for its FDI strategy. Singapore retained its first place ranking, with London taking second place and Dublin edging out Hong Kong to claim third place. Other cities listed include Edinburgh, Hong Kong and Chicago.
"This accolade is indeed a massive feather in Cape Town’s cap as it recognises all the ongoing efforts being made by the City and its private sector partners to ensure that Cape Town is on the international map for business and investment," said Cape Town's executive deputy mayor, Ian Neilson, in a statement.
He pointed out that Cape Town contributed to economic growth by providing stable governance, clear policy direction, delivery of infrastructure, support services, investment promotion, facilitation and economic research while striving to reduce the administrative burden of doing business.
"This strategy is beginning to pay off, with a number of companies setting up their headquarters in Cape Town. Cape Town is home to most South African retail giant headquarters and investment houses. We are the green hub of Africa, accounting for most of the local manufacturing for the national renewable energy programme," said Neilson.
