Publications
Partners
Cape Town - The broad trendline of investment in South African industrial infrastructure has been positive in the past four years since the dramatic loss of investment during the global economic crisis, Minister of Economic Development Ebrahim Patel told MPs.
Patel said the state’s developmental role was pivotal, citing the example of the state-owned Industrial Development Corporation. He said that for every R1bn spent by the IDC, R2bn further investment came from the private sector. The IDC spent on average R12bn a year, meaning that a further R24bn or so was drawn in from the private sector – a total of R36bn a year on investment in industrial activity.
Speaking in the debate on President Jacob Zuma’s State of the Nation address, the minister said a number of surveys of investment from outsiders “all tell the same story: Africa is successful in attracting foreign direct investment and South Africa in turn attracts the largest share of such investment”.
