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Invest in South Africa – Envoy in Colombo addresses the Business community

The Ceylon Chamber of Commerce organized a presentation on the theme ‘Explore South Africa,’ for the private sector business community recently. The event featured the South African High Commissioner R.P. Marks, and two representatives from South Africa’s Department of Trade and Industry.

Speaking at the event, the High Commissioner spoke of services offered, of South Africa’s focus areas, and how their government would facilitate trade and investment from Sri Lanka.

“We don’t focus on the region, we focus on the sector across the country,” she said. “The sectors we focus heavily on are green, service-based, resource-based, in manufacturing, and advanced manufacturing industries.We look to invite key companies to South Africa that we think would make a difference.”

Ambassador Sadick Jaffer, Chief Director of Investment Promotion at Invest South Africa ran the private sector business community through the benefits of investing in their country. He stated that South Africa had the most developed economy in the region, and had a robust democracy, press, and judiciary; thereby making it attractive to foreign investors.

“We have an open economy, and raise about a billion each in exports and imports both ways. We’re also the 37th largest economy in the world.”

He stressed that South Africa’s eight open economy seaports provided investors with easy access to the rest of the country – along with its large road and rail transport system.

“South Africa is an enabling environment for investment, patents, and trademarks. Our disputes legislation is in line with international norms and conventions, where foreign investments are protected,” he added.

Furthermore, those interested in expanding trade and investing in South Africa would receive export assistance, incentives, funding assistance, and an Industrial Policy Action Plan (IPAP) strategies which would benefit the economic sector.

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