The South African government has prioritized the enhancement of business confidence and investor interest in order to create an enabling environment for business to thrive according to Mr. Bulelani Magwanishe, the Deputy Minister of Trade and Industry. He made this statement at the Chinese Embassy in Pretoria while welcoming the delegation from China. According to Magwanishe, South Africa and China have been engaged in a fast growing economic relationship and China has been South Africa’s top trading partner since 2009. He reckoned that the increase of Chinese investment in the country through platforms like BRICS and Forum on China-Africa Cooperation (FOCAC) has been much welcomed.
With South Africa hosting the 10th BRICS Summit, it certainly is a strategic time to strengthen collaborative efforts with the Peoples Republic of China.
Foreign direct investment thus becomes critical to building productive capacity, through the transfer of knowledge and technology. “South Africa is therefore eager for collaboration, to actively explore investment opportunities and partnerships with Chinese companies. Currently we have diversified our Special Economic Zones (SEZs) to accommodate all our attractive sectors. Our SEZ Programme offers lucrative opportunities for investors”.
Mr Lin Songtian, the Ambassador of China to South Africa stated that after 20 years of joint efforts, China and South Africa have established comprehensive strategic partnership, creating tangible and visible benefits for both countries. He said that China has for nine years remained South Africa’s largest trading partner, and one of the most important sources of foreign investment and tourists. He added that China-South Africa relations were strategic, all-dimensional, and mutually beneficial. “This visit is to show that China is ready to be the most reliable friend and the strongest partner in South Africa’s pursuit of economic and social transformation. China will continue to encourage and support more Chinese investors to South Africa to participate in the investment conference and jobs summit”.