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Zuma to attend WEF yearly forum in Davos

22nd January 2013

By: Creamer Media Reporter

  

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President Jacob Zuma, who travelled to Davos-Klosters, Switzerland, on Monday to attend the World Economic Forum (WEF) yearly meeting, will use South Africa’s attendance to call for the world's top economies and businesses to invest in South Africa’s and Africa’s infrastructural projects for the long-term economic growth of the continent.

Zuma also planned to use the WEF platform to promote South Africa’s National Development Plan (NDP), which seeks to redress South Africa’s triple challenges of unemployment, inequality and poverty by 2030.

The NDP is aimed at ensuring that all South Africans have access to quality services such as education and health.

It will also entrench a social security system covering all working people, as well as social protection for the poor and other groups in need, such as children and people with disabilities. It aims to see South Africa play a leading role in continental development, economic integration and human rights.

Infrastructure development is a key aspect of the NDP. Zuma will invite international business to invest in South Africa’s multibillion-rand infrastructure programme.

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

“The African continent is currently a leading investment destination for good returns and sustainable socioeconomic growth. As the leading economy in Africa, South Africa remains the strategic platform to accessing one of the world’s fastest-growing regions,” the Presidency noted in a statement.

South Africa supports growth in Africa through regional integration and direct investment.

This year’s WEF yearly meeting, which is being held from January 23 to 27, takes place under the theme "resilient dynamism", which seeks to address how the international community can return to a good economic path and create higher employment opportunities.

The WEF will also debate how the world can tackle 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,” the Presidency stated.

Finance Minister Pravin Gordhan, Minister in the Presidency: National Planning Commission Trevor Manuel, Trade and Industry Minister Dr Rob Davies, Water and Environmental Affairs Minister Edna Molewa, Economic Development Minister Ebrahim Patel, Mineral Resources Minister Susan Shabangu, Energy Minister Dipuo Peters and Labour Minister Mildred Oliphant, as well as other senior government officials, will accompany Zuma.

Among the key sessions the President 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 socioeconomic issues business might want to raise.

Ministers accompanying the President will also participate in a number of sessions. These include, besides others, sessions on infrastructure development, mining, energy and labour.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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