South Africa will host the fourth South Africa Investment Conference (SAIC) on Thursday, the 24th of March 2022. The conference is part of South Africa’s investment plan to attract ZAR 1.2 trillion in new investment into the country over the next 5 years to boost the economy and drive socio-economic development.
The conference will be held at the Sandton Convention Centre and sessions will be livestreamed for an online audience.
About the South Africa Investment Conference
Since its launch in 2018, the Investment Conference has attracted delegates from South Africa and the rest of the world. The aim of the conference is to showcase the investment opportunities available in the country. To date, the SAIC has attracted investment commitments worth more than ZAR 700 billion.
The fourth South Africa Investment Conference aims to build on the successes of recent years. The conference serves as an opportunity for the South African government to engage with national as well as international businesses. It aims to highlight to international investors South Africa’s strengths and competitive advantages that make the country a high potential investment destination.
Topics to be discussed at the conference include the country’s economic recovery from the Covid-19 pandemic and tackling unemployment, poverty and inequality.
Furthermore, South Africa is using this year’s conference as a platform to communicate the following key points:
- Positioning South Africa as a globally relevant player and partner in trade and investment that can compete with the best in the world.
- Showcasing South Africa’s capabilities and strategic importance in the region.
- Presenting the country’s economic recovery strategy and implementation.
- Strengthening South Africa’s position as an attractive destination for business, investment and tourism.
- Highlighting investment opportunities that have the potential to transform the economy and create employment opportunities.
- Emphasising South Africa’s continued commitment to zero tolerance of corruption and tackling it in all sectors of society.
South Africa as an investment destination
South Africa remains a popular destination for visitors from around the world due to its diversity, world-class infrastructure and positive global reputation.
As one of the most sophisticated and promising emerging economies, the country offers a unique combination of highly developed economic infrastructure and a dynamic emerging economy.
Among the many opportunities is the expansion of infrastructure in the areas of transport, water, roads and electricity. For example, power generation is expected to grow by 6 800 MW in the medium term thanks to the procurement programme for independent power producers from renewable sources.
Furthermore, there is a special focus on the implementation of innovative technologies. This is evident in South Africa’s commitment to the implementation of the Fourth Industrial Revolution (4IR), as well as in the country’s highly developed information and communication technology (ICT) and electronics sectors.
South Africa offers an advanced telecommunications network and secure banking system. As a result, the country supports multinational companies to take advantage of opportunities in the country and the region.
Despite the extremely difficult economic environment in the last two years, investments in South Africa have been able to strengthen the energy, telecommunications, water, port and railway sectors. The government wants to continue to lower the cost of doing business in South Africa and encourage greater private investment in infrastructure development to drive the country’s transformation.
The establishment of 13 special economic zones across the country provides investors with targeted investment incentives, preferential tax rates and export support, as well as an attractive manufacturing base for multinational companies.
South Africa’s regional partnerships include participation in the Southern African Development Community, the Southern African Customs Union and the new African Continental Free Trade Area (AfCFTA).
Intra-African trade
South Africa’s future is intertwined with that of the continent. The country continues to play an important role in Africa’s development and is committed to Africa’s prosperity.
The AfCFTA facilitates trade between African countries by creating new export opportunities for products and services from Southern Africa to member countries that trade with each other without tariffs or other barriers.
South Africa is already working with a number of neighbouring countries to boost business, trade and investment. This regional partnership provides growth opportunities for foreign and intra-African investment.
The country continues to relax cross-border financial regulations and tax requirements to allow South African-based companies to expand within Africa and support the continent’s growth.
Recent investments in South Africa that bring enormous benefits to the region and the rest of the continent include:
- US health technology company NantWorks’ multi-billion-dollar investment in a new advanced vaccine manufacturing facility in Cape Town.
- The expansion of Toyota South Africa’s production line to produce the first locally manufactured hybrid car in South Africa. This investment was the result of a ZAR 2.4 billion commitment made by the company at the second SAIC in 2019.
- Aspen Pharmacare’s ZAR 2.4 billion expansion announced at the first SAIC in 2018, which made its manufacturing facility one of the world’s largest production centres for general anaesthetics.
About InterGest South Africa
With 20 years’ experience, InterGest South Africa offers unparalleled support with its comprehensive range of services and extensive expertise in African markets. From market entry through to the setup, administration, management of subsidiaries and sales organisation, we have the perfect and cost-efficient solution at any stage of your African venture.
If you want to find out more about investing in South Africa, entering African markets, top industry sectors or opportunities for multinational companies, please don’t hesitate to contact us under contact@intergest.co.za.
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