Presidency unveils new strategy to lure more investment

Key industries being targeted for investment include finance, insurance, real-estate, business services, among others.
President Cyril Ramaphosa. Image: GCIS

The Presidency has unveiled a draft plan to draw more investment to help grow the coronavirus-battered economy and create jobs for the 34.5% of its labour force that’s unemployed.

“The Country Investment Strategy is aimed at creating a fully integrated and coordinated approach to investment through aligning government priorities and channeling investment towards areas with the greatest growth potential,” the Presidency said in the document, which was published in the Government Gazette on Tuesday. Those should be “supported by aptly co-ordinated incentive schemes and anchored by quality institutions,” it said.

Key industries being targeted for investment include finance, insurance, real-estate, business services, logistics, manufacturing, mining, electricity, water and agriculture.

The public has a month to comment on the proposed plan.

© 2022 Bloomberg

COMMENTS   1

You must be signed in and an Insider Gold subscriber to comment.

SUBSCRIBE NOW SIGN IN

Governments suck at how they select incentives. Leave it to the market and if you need to boost, boost all sectors equally.

If any specific sector deserves a helping it hand it would be tourism after the covid experience. Very large employer that can bounce quickly if we are foreign tourist friendly and their spend is quite wide with lots of labor?

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Subscribe to our mailing list

* indicates required
Moneyweb newsletters

Instrument Details  

You do not have any portfolios, please create one here.
You do not have an alert portfolio, please create one here.
INSIDER SUBSCRIPTION APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING

Follow us: