Loading

Investment opportunities beckon for South Africa

18 JULY 2018
BRICS panel discusssion from L-R is Pumi Motsoahae, Sello Rasethaba,Thami Sithole, Thabani Shale, Gary Bell and Prof. Osman Ndwandwe during the KZN provincial Government ahead of the BRICS Business Council meeting, hosted a tour of the Richards Bay Industrial Development Zone (RBIDZ) and the Port of Richards Bay before the BRICS round table discussion involving leaders from all spheres of government, private sector, academy, the media and ordinary members of the society.

 

Picture: Motshwari Mofokeng/African News Agency/ANA

 

DURBAN - South Africa’s ambassador to BRICS, Professor Anil Sooklal, said yesterday that there was an abundance of investment opportunities for South Africa, but the country was slow to take them.

The ambassador advised South African businesses to take advantage of the opportunities, as there was a vast amount of them.

Sooklal was giving the keynote address at the BRICS Round Table Discussion held at the Richards Bay Industrial Development Zone (RBIDZ) yesterday.

RBIDZ is hosting the BRICS Round Table Discussion, which involves leaders from all spheres of the government, the private sector, academic and ordinary members of society.

He said there was a great appetite, especially with the current economic environment in the country as there was renewed confidence in the international community about the country.

“What we need to do is to have a co-ordinated and focused approach. The industrial development zone (IDZ) has identified sectors that they want investment in. The investors are out there in the BRICS countries and globally.

 

RSA ambassador for BRICS Prof Anil Sooklal addressing the delegates at the KZN provincial Government ahead of the BRICS Business Council meeting, hosted a tour of the Richards Bay Industrial Development Zone (RBIDZ) and the Port of Richards Bay before the BRICS round table discussion involving leaders from all spheres of government, private sector, academy, the media and ordinary members of the society.

 

Picture: Motshwari Mofokeng/African News Agency/ANA

 

“We need a focused approach, for instance when we approach China for investment in the pharmaceutical industry or India in the agro-sector, we need to make sure that we follow up, engage until such time that an agreement is signed and materialises,” said Sooklal.

He said that the country currently fell short in following up and implementing on such deals.

Sooklal said BRICS was about ensuring that they lifted people out of poverty and underdevelopment, and that it must ensure that the country’s people had a decent life and South Africa’s economy started to grow significantly.

Sooklal said that there was no reason for South Africa to be growing at 1 percent as it had all it took to grow at between 4 and 5 percent.

RBIDZ chief executive Pumi Motsoahae said they identified with the BRICS platform.