Cabinet has approved the publication of South Africa’s Country Investment Strategy for public comment.
The strategy seeks to position the country as a key African investment destination of choice by leveraging quality foreign and domestic direct investments, a post-Cabinet statement issued on March 25 states.
The strategy is anchored in the country’s priority investment and economic development sectors such as finance, insurance, real estate and business services; transport and logistics; manufacturing; mining and quarrying; electricity, gas and water; and agriculture and agroprocessing.
It provides investment mechanisms to attract small, medium-sized and microenterprises into the economic growth drive. The strategy also taps into a number of multilateral, regional and bilateral agreements which South Africa has signed, the statement notes.
The strategy is aligned to the goals of the National Development Plan, the Economic Recovery and Reconstruction Plan, the Re-imagined Industrial Strategy and the recently adopted National Infrastructure Plan 2050.
The nine provinces and their eight respective metropolitan key economies are central in driving the strategy, which will be a living document that will constantly be adapted to the changing economic environment, the statement says.