Caspian Energy (CE): What strategies are being implemented to attract foreign investment and promote industrial growth in the Republic of South Africa?
Mpho Parks Franklyn Tau, Minister of Trade, Industry and Competition of the Republic of South Africa: The Republic of South Africa has been on an aggressive Foreign and Domestic Investment drive. We have developed an investment project book worth about R700 Billion. This book is a living document and can be updated at any time. We have identified key sectors for investment that we believe will drive growth in our economy. These include, but are not limited to, green hydrogen, renewable energy, pharmaceuticals and infrastructure among others. We are undergoing a legislative process to identify and unlock regulatory bottlenecks that hamper investment and increase red-tape. It is our hope that this will ease the process of doing business in South Africa.
We are repositioning our Development Finance Institutions to become agents of industrial growth and economic development, creating and supporting new industries with potential for long term success. This work is important in future proofing the South African economy.
We have also identified the digital economy as a critical part of our industrialization efforts, including the rollout of Digital Public Infrastructure and the use of smart technology in manufacturing processes.
South Africa is open for business.
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