Pretoria - President Jacob Zuma has ended his visit to Germany by calling on that country’s companies to invest in and partner with South Africa.
“South Africa is becoming a frontier for new sectors for investment such as the green economy, oil and gas, shipbuilding and the ocean economy, among others. Our Renewable Energy Independent Power Producer Programme (REIPP) has become world renowned and a policy blue print for other countries,” President Zuma said at an official dinner hosted on his behalf.
These sectors, said the President, offer German companies opportunities to invest in and partner with South African companies.
More than 600 German companies currently operate in South Africa, supporting well over 100 000 jobs. The jobs are mainly in the car industry.
South Africa, like the developed world, is still dealing with the lingering effects of the financial crisis. President Zuma said the South African government recognises the importance of foreign direct investment (FDI).
“We are - and will remain - open to FDI. That openness is reflected in the stock of FDI in South Africa, which now accounts for around 42% of our GDP.”
Inward flows also continue to grow and over the last five years, South Africa accounted for the bulk of new investment projects in Africa, with investment arriving from the USA, member states of the European Union, China, India and other Asian countries.
Since Germany is by far South Africa's most important trading partner in the Euro28, President Zuma said it was important for the two sides to keep engaging on issues of mutual interest and improve economic and trade relations between the two countries and the African Continent.
“We wish to emphasise to you all that there are opportunities for us to cooperate further and that there are many areas for companies in our respective countries to work together.”
President Zuma held talks with German Chancellor Angela Merkel in Berlin. The two used the visit to review a wide range of bilateral‚ regional and international issues. – SAnews.gov.za
