Pretoria - President Jacob Zuma says the commitment made by many Japanese companies through their investments in the South African economy is proof of solid relations between South African and the Asian country.
Japan is South Africa's third largest export destination and the fifth largest source of imports.
Japanese direct investment to South Africa has been steadily increasing in recent years, amounting to nearly R20 billion in 2010.
“We are happy to host 110 Japanese companies in South Africa, which generate about more than 150 000 jobs. What is more, manufacturing companies such as Toyota contribute significantly to raising the capacity of local industries, through supplier development and skills development programmes,” Zuma said.
He was speaking during the South Africa-Japanese Business Forum on the occasion of his official visit to Japan.
Since 2008, the Japan Bank for International Cooperation (JBIC) has provided low interest loans and guarantees to Eskom and Transnet.
Zuma said Japanese companies were also actively participating in South Africa’s infrastructure programmes, particularly in the rail sector.
“Of late, we have also witnessed keen interest from Japanese banks to support their clients on the ground in South Africa. This is a very encouraging sign.”
Japanese companies had a tradition of taking a long term view and placing emphasis on contributing to society.
Zuma used the opportunity to invite the Japanese to continue investing in South Africa, saying the country was open for business. He encouraged investors to take advantage of South Africa as a manufacturing platform to increase their market share on the growing African continent.
“We also offer opportunities in infrastructure development. This is a key vehicle for improving the quality of life and of providing a more focused access to basic services, competitiveness and jobs in South Africa.
“Our infrastructure drive is about providing housing, sanitation, public transport and running water in the urban areas for millions of South Africans who stay in urban areas. It is about connecting rural communities to economic opportunities through building dams and irrigation systems, connecting farms and villages to the energy grid and building schools and clinics,” said the President. – SAnews.gov.za
