President Jacob Zuma says several private sector reports indicate that South Africa remains the preferred investment destination on the African continent. He was speaking at the launch of the Western Cape Invest South Africa (InvestSA) One Stop Shop in Cape Town today.
The President said that government, business and organised labour need to work together to sustain this positive trajectory.
"We need to build on these positive attributes of our country. It is for this reason that we are establishing the One Stop Shops to make it easier for investors to do business in South Africa. For a long time there have been concerns from the business and investor community that bureaucratic hurdles in the state make investing in South Africa difficult. The launch of InvestSA One Stop Shop for the Western Cape Province this morning is our concrete response as government to these concerns," adds President Zuma.
Speaking at the same event, the Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe agreed with the President that South Africa remains an attractive investment destination for investors.
"Today we can report that during the 2016/17 financial year, InvestSA recorded Foreign Direct Investment inflows of R58 billion, demonstrating that South Africa remains an attractive investment destination for investors. Investors are convinced about the long-term investment prospects in South Africa," said Magwanishe.
Magwanishe added that the quality and level of Foreign Direct Investment inflow into the country was testament to the reforms and initiatives put in place by government to make South Africa an attractive investment destination.
"As a result of the National One Stop Shop we have seen a significant improvement in the coordination of investment activities nationally. This initiative can never be successful without collaboration by all the three spheres of government," added Magwanishe.
Welcoming the One Stop Shop, the Acting Premier of Western Cape, Mr Alan Winde said the launch of the One Stop Shop demonstrated the Western Cape government's commitment to making it easier to do business in the province.
"This centre will deliver a world-class and streamlined service to high-level investors. Preliminary figures for 2017 show that we are on track to securing in excess of R6 billion worth of investments into the province. These projects drive growth and job creation. I am confident the investor centre will further boost this number. The centre is also an excellent example of the power of partnerships between the different spheres of government. The Western Cape has a lot to offer international businesses, and we intend to capitalise on that," said Winde.
Department of Trade and Industry