South Africa is still seen as an attractive destination for investments

South Africa is still an attractive investment destination and the Department of Trade and Industry’s InvestSA initiative still has a good investment pipeline, says InvestSA head Yunus Hoosen.

GOOD NEWS: InvestSA initiative still has a good investment pipeline

According to Engineering News, in a statement released on Tuesday, he noted that the initiative had a “number of investment projects that we will be working on again this year. More and more investors are keen to invest in this country.”

The initiative aims to attract and facilitate more domestic and foreign direct investments in the country this year.

“We will again be working hard to bring the much-needed investments into the country throughout this year as part of government’s efforts to achieve full-scale industrialisation, inclusive economic growth and job creation. The appetite and keenness of international companies to invest in South Africa were high last year.

“This is evidenced by the fact that last year we saw the launch of one multimillion-rand investment a month from January to December in the country, thereby creating thousands of jobs for the people of South Africa,” Hoosen added.

Last year, the country attracted a number of significant investors, including Beijing Automotive Interactive Corporation, which invested R11-billion; R5-billion from Acwa Power and a R2.5-billion investment from Ford, besides others.

Read the full story at Engineering News