Cape Town – South Africa has attracted attention from Chinese, Indian and Russian investors – including a planned visit by Chinese buyers who aim to spend R5 billion in provinces across the country later this year, said the Department of Trade and Industry’s Director General Lionel October.
Speaking to SAnews, October said the Chinese government was planning to co-ordinate a buying mission for their retail trading houses and state-owned enterprises in September and are targeting to spend R5 billion in provinces across the country.
He said his department had signed a range of agreements at the Brics summit which took place in Durban in March.
This included agreements signed with China for the setting up of a cement plant in Limpopo and another with Chinese conglomerate Cherry to explore the possibility of setting up ship repair and small ship building in Richards Bay.
In another agreement concluded at the Brics summit, the Industrial and Commercial Bank of China (ICBC) – which has a 20% share in Standard Bank – agreed to invest its share of dividends over the next five years in renewable energy projects.
October said the department’s Russian counterparts agreed during talks at the Brics summit in Durban, that they would send buying missions to look at expanding purchases into juices and other long-shelve food products.
He said Russia is now the biggest market for South Africa’s citrus fruits – with 12% of citrus exports heading to Russia.
South Africa had been able to gain market share there, as European citrus is currently blighted by black-spot disease.
Meanwhile in March Indian conglomerate, the Action Group, signed an agreement with the Dube Tradeport, in Durban, to set up an agricultural export hub. – SAnews.gov.za
