Share

SA is yielding results, says govt

Johannesburg - South Africa's improved position in AT Kearney's 2014 Foreign Direct Investment (FDI) Confidence Index underlined the value it offered to investors, the government said on Wednesday.

"The report, which cites South Africa as the only country in Africa on the list of top 25 countries, demonstrates that our country's blueprint on development is yielding results," spokesperson Phumla Williams said in a statement.

"South Africa offers lucrative value and opportunities for international investor partnerships, as the country is uniquely positioned as the gateway into Africa."

South Africa also boasted a combination of developed first-world economic infrastructure and an emergent market economy which gave rise to a healthy entrepreneurial and vibrant investment environment.

South Africa rose to 13th position in AT Kearney's 2014 index - compared to 15th in 2013 and 11th in 2012.

Global management consulting firm AT Kearney released the index following a survey of senior executives from 300 of the world's leading corporations as to the most attractive FDI destinations around the world.

The United States maintained its first place, followed by China and Canada.

Africa increased FDI flows by 12% to $47.6bn (R512bn) in FDI.

FDI growth on the continent was driven partly by investment in extractive industries, but manufacturing and services were also seeing increased interest.

South Africa received $4.5bn (R48.3bn) FDI in 2012 after a bounce of $5.8bn (R62.6bn) in 2011.

Williams said more companies internationally were seeing South Africa as an investment destination of choice.

"The country has a fertile business environment and infrastructure in a number of sectors including, finance and telecommunications," she said.

"South Africa has heeded President Jacob Zuma's call to focus on changing negative perceptions held by foreign investors and thereby attract further investment."

Tax incentives by government, announced in 2011, had also contributed to attracting foreign direct investment.

"South Africa's commitment to the Renewable Energy Independent Power Provider Programme has been identified as one of the key drivers of its improved rating on the index," said Williams.

"The programme has been designed to contribute towards increasing the supply of electricity through renewable energy. It is also aimed at addressing socio-economic and environmentally sustainable growth."

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.0%
Rand - Pound
23.90
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders