Pretoria - Deputy President Cyril Ramaphosa will address Singaporean investors today, where he will reiterate that South Africa remains open for business and is a preferred destination for investment.
He will hold discussions with the Government Investment Corporation of Singapore and interact with the management of Temasek, the sovereign wealth fund of the government of Singapore specialising in growth capital, restructuring and divestiture transactions.
Deputy President Ramaphosa is in Singapore on a working visit is aimed at strengthening bilateral political, economic and trade relations.
The visit, the Presidency said, provides an excellent opportunity for the South African delegation to learn from the Singaporean model of economic success and the role of State-owned enterprises in advancing economic growth and the national developmental objectives of the country.
“Deputy President Ramaphosa will seek to unlock future areas of trade and investment, while attracting investments into South Africa from Singaporean investors and State-owned enterprises through public-private partnerships to advance the objective of South Africa's National Development Plan,” the Presidency said.
Trade relations between the two countries continue to grow. In 2015, bilateral trade totalled R23.5 billion. Exports in 2015 amounted to R6.8 billion, while imports totalled R16.6 billion.
On his arrival on Wednesday, Deputy President Ramaphosa paid a courtesy call on Singaporean President Tony Tan Keng Yam and held bilateral discussions with Deputy Prime Minister Tharman Shunmugaratnam before attending a briefing session by the Singaporean Housing Development Board.
On Friday, Deputy President Ramaphosa and his delegation will visit the Port of Singapore Authority.
Deputy President Ramaphosa's delegation includes the Deputy Ministers of International Relations and Co-operation; Environmental Affairs, Public Enterprises; Defence and Military Veterans and Economic Development.
The delegation also includes a businesspeople from SDB Holdings (PTY) LTD, Xpanse, South African Airways, Thebe Investment Corporation, Semona Group, Saldanha Bay IDZ, South African Maritime Safety Authority (SAMSA), Transnet Ports Authority and SAFCOL. - SAnews.gov.za
