Cape Town - President Jacob Zuma told the delegates at the World Economic Forum in Davos, Switzerland, on Wednesday that sound macroeconomic policies, an effective regulatory environment, and sustained political and social stability continue to make South Africa a candidate for "even greater and faster economic growth".

Massive investment has been made possible by the judicious management of the country's finances.

Doing a hard sell on the advantages this country has for international investment (and for hosting international sporting events), the president declared: "We have built a resilient economy which has been able to survive the global economic crisis, and which is actually beginning to show signs of recovery.

"We have not been spared the job losses, but we have put plans in place, working together as business, labour and government to ensure that the recovery becomes faster and inclusive.

"We are making significant improvements in key areas of domestic policy, such as health, education as well as visible, vigorous and effective crime prevention.

SA is ready

"The country's transport, energy, telecommunications and social infrastructure is being upgraded and expanded. This is contributing to economic development in the midst of a global recession, while improving conditions for investment. This investment has been made possible by the judicious management of the country's finances.

"It is thanks to this approach that we have been able to respond to the first recession of the democratic era without placing undue strain on our public borrowing requirements."

Zuma said that the country will continue to build on these strengths.

"We cannot think of any logistical hurdles that cannot be overcome. South Africa is truly ready for business and for football fans from around the globe."

Pressing home the sporting advantage, the president told delegates that the 2010 Fifa World Cup offers an opportunity for the world to see and experience Africa in a different way.

"It is an opportunity to tackle stereotypes and preconceptions about the continent, and explore new frontiers of interaction and cooperation. It is an important milestone in the regeneration of the continent," he said.

He said: "We say boldly that South Africa is ready to welcome the world to Africa, in June-July 2010. We have worked for many years for this exciting tournament."

- I-Net Bridge