Cabinet welcomes FDI report

Friday, April 28, 2017

Pretoria – Cabinet has welcomed the A.T. Kearney’s 2017 Foreign Direct Investment Confidence report, which indicates that South Africa is the 25th most attractive destination for foreign direct investment globally, the first from the African Continent.

Addressing media during a post Cabinet briefing on Friday, Communications Minister Ayanda Dlodlo said South Africa made a comeback into the index, which publishes the 25 most attractive investment destinations, for the first time since 2014.

It ranks with other developing countries such as China (3rd), India (8th); Brazil (16th) and Mexico (17).

“This ranking shows that South Africa’s strategic partnership with foreign investors is gaining momentum and further demonstrates that our country’s blueprint on development is yielding results.

“Improvements in short-term economic prospects and the long-term investment in the country’s manufacturing sector have been cited as some of the key drivers of South Africa’s improved rating on the Index,” Minister Dlodlo said.

Africa Investment Index 2016

The Minister said in a separate report, the latest Africa Investment Index 2016 by Quantum Globals independent research arm ranks South Africa fourth most attractive investment destination in Africa after Botswana, Morocco and Egypt.

“South Africa scored well on the growth factor of GDP, ease of doing business in the country and significant population,” Minister Dlodlo said.

African Economic Outlook 2016 report

She said the country’s attractiveness as an investment destination of choice was further highlighted in the African Economic Outlook 2016 report, which places South Africa fourth among the leading African investment destinations in 2015 after Egypt ($10.2 billion), Mozambique ($4.7 billion) and Morocco ($4.2 billion) with $3.6 billion in foreign investment.

South Africa continues to build on its strong financial and business base, ranking 47th out of 138 countries in the World Economic Forum Global Competitive Index 2016/17. – SAnews.gov.za

Most Read

SA News on Facebook