SAnews.gov.za (Tshwane)

Africa: WEF to Be Used to Promote Investment in SA, Africa

Photo: WEF
Jacob Zuma, President of South Africa, flanked by Klaus Schwab and Peter Brabeck-Latmathe during the Opening Plenary: Africa's Role in the New Reality held at the World Economic Forum on Africa 2011 held in Cape Town, South Africa, 4-6 May 2011.

Pretoria — President Jacob Zuma will use the World Economic Forum (WEF) in Davos, Switzerland, as a platform to call for the world's top economies and business to invest in South Africa's and Africa's infrastructural projects for the long term economic growth of the continent.

Zuma left South Africa last night to travel to that country.

According to the Presidency, he will invite international business to invest in government's multi-billion rand infrastructure programme which will change the country's social and economic landscape on completion.

The African continent was currently a leading investment destination for good returns and sustainable socio-economic growth.

"As the leading economy in Africa, South Africa remains the strategic platform to accessing one of the world's fastest growing regions. South Africa supports growth in Africa through regional integration and direct investment."

The President said he would also use the forum to promote the country's National Development Plan (NDP) - a vision of the nation South Africa strives to be by 2030.

The National Development plan seeks to redress South Africa's triple challenges of unemployment, inequality and poverty.

The NDP will ensure all South Africans have access to quality services when it comes to education and health. It will also entrench a social security system covering all working people, with social protection for the poor and other groups in need, such as children and people with disabilities. It will also see South Africa play a leading role in continental development, economic integration and human rights.

A key aspect of the NDP is infrastructure development - a key project within the New Growth Path framework, which is part of the National Development Plan.

"The President champions the African Union's North-South infrastructure development corridor, running from Durban to Dar-es-Salaam, which he will also promote in Davos," it said.

The WEF takes place under the theme "resilient dynamism" which seeks to address how the international community can return on a good economic path and create higher employment opportunities.

According to the Presidency, the WEF will also debate how the world can address the vulnerabilities within the international financial system and increase global, national and industry resilience to major systemic risks.

"With ever-increasing evidence of the African continent's steady growth and development, Davos remains the best platform for South Africa to showcase its opportunities for investment and business."

Among the key sessions that Zuma will attend include a panel discussion entitled "De-risking Africa" where African leaders will talk about mitigating investment risk in Africa's economies.

He will also hold a dialogue with big business to discuss investment opportunities in South Africa and address any socio-economic issue business might want to raise.

Ministers accompanying the President will also participate in a number of sessions, these include Finance Minister Pravin Gordhan, Minister in the Presidency: National Planning Commission Trevor Manuel, Minister of Trade and Industry Rob Davis, Minister of Water and Environmental Affairs Edna Molewa, Minister of Economic Development Ebrahim Patel, Minister of Mineral Resources Susan Shabangu, Minister of Energy Dipuo Peters as well as Minister of Labour Mildred Oliphant and senior government officials.

Zuma will leave Davos on 25 January and proceed to Addis Ababa to attend the African Union Summit.

Ads by Google

Copyright © 2013 SAnews.gov.za. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

InFocus

S Africa's Economic Growth is Challenging

President Jacob Zuma has blamed the countries colonial past for the slow economic growth. He was speaking during an Aljazeera interview, following the World Economic Forum. Read more »