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Ramaphosa announces new Investment Conference, says FDI has shot up

Feb 07 2019 19:47
Jan Cronje

SA will again host an Investment Conference this year, said President Cyril Ramaphosa in his State of the Nation Address in Parliament. 

Ramaphosa's first investment conference, which took place in October, garnered nearly R300bn in investment pledges.

On Thursday he said it was a "huge success". 

He added that while foreign direct investment amounted to only R17bn in 2017, it grew to R70bn in the first three-quarters of 2018, according to official data. 

"This is a phenomenal achievement compared to the low level of investment in the previous years," he said. 

"Our investment envoys – Trevor Manuel, Mcebisi Jonas, Phumzile Langeni and Jacko Maree – as well as InvestSA, are closely monitoring the status of the investments announced at the Investment Conference," he said. 

The president said the conference was "not just a talk shop where empty promises were made".

"... [A]s we speak, projects to the value of R187bn are being implemented, and projects worth another R26 billion are in pre-implementation phase," he said.

    sona2019  |  cyril ramaphosa  |  investment  |  sa economy


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