President Jacob Zuma has ended his visit to Germany by calling on companies to invest in and partner with South Africa.
“South Africa is becoming a frontier for new sectors for investment such as the green economy, oil and gas, shipbuilding and the ocean economy, among others. Our Renewable Energy Independent Power Producer Programme (REIPP) has become world renowned and serves as policy blueprint for other countries,” Zuma said at an official dinner hosted on his behalf last night
These sectors offer German companies opportunities to invest in and partner with South African companies, said Zuma.
According to him, more than 600 German companies currently operate in South Africa, supporting well over 100 000 jobs. Zuma added that the South African government recognised the importance of foreign direct investment (FDI).
“We are - and will remain - open to FDI. That openness is reflected in the stock of FDI in South Africa, which now accounts for around 42% of our gross domestic product (GDP).”
Inward flows also continue to grow. Over the last five years South Africa has accounted for the bulk of new investment projects in Africa, with investment arriving from the USA, member states of the European Union, China, India and other Asian countries.
