Photo by: BLOOMBERG
The Department of Trade and Industry’s (DTI'S) investment promotion unit overshot its investment target of R40-billion in 2014/15, achieving an investment pipeline of R43.8-billion for the year, Trade and Industry Minister Dr Rob Davies revealed in a written Parliamentary response this week.
He added that the department aimed to attract R45-billion worth of investments in 2015/16, R50-billion in 2016/17 and had outlined a cumulative target over the three-year period of R135-billion.
The DTI’s Investment Promotion and Facilitation unit was responsible for attracting foreign direct investment, as well as developing and promoting local direct investment, through the identification, packaging and marketing of potential investment opportunities and the identification of potential investors.
The unit facilitated investment in South Africa, provided general information on the investment and domestic business climate and offered dedicated aftercare services to investors.
It also organised inward and outward trade missions and facilitated funding and government support for trade and investment related activities.