Tau continues to mobilise business community in South Africa
Trade, Industry and Competition Minister Parks Tau addressed global think tank The European House – Ambrosetti (TEHA) this week and urged business leaders to explore South Africa for investment opportunities.
He was addressing the TEHA’s CEO Community – African Chapter, at the Inanda Country Club in Sandton.
The Minister stressed that the South African government was working to make the environment conducive to investment and managed to address key issues identified as hindrances.
Among these are four consecutive quarters of GDP growth through to early this year, a sovereign credit rating upgrade, removal from the Financial Action Task Force grey list and an end to loadshedding, he highlighted.
“The sixth investment conference was also the platform on which we launched two instruments that directly address the frustrations investors have historically voiced. The first is the Fusion Centre – a coordinated government mechanism designed to fast-track regulatory approvals and resolve bottlenecks in real time, with defined timelines and enhanced transparency for investors.
“The second is the planned Omnibus Fast-tracking Act, which will streamline licensing processes, digitise permits, and enable faster visa approvals for scarce skills. Herein, we are engineering a system that works for investors,” Tau said.
He further highlighted energy, minerals and beneficiation, automotive and new energy vehicles and green industrialisation as some of the key sectors that will drive the South African economy going forward.
The Minister told business leaders present that South Africa’s path to prosperity is premised on partnership between government and the private sector.
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