Zuma to promote SA’s plans for growth at Davos

21 January 2015

We will market our successes and share our plans to deal with our challenges, President Jacob Zuma said as the South African delegation touched down in Switzerland on Tuesday, ahead of the annual World Economic Forum (WEF) meeting in the village of Davos.

Zuma said South Africa was looking forward to a successful session in the Swiss village, where it would promote the National Development Plan (NDP) to the world.

More than 40 heads of state and government, as well as 2 500 leaders from business and society will convene at the 45th WEF annual meeting from 21 to 24 January.

“We are ready to communicate our country’s successes and also to share our plans to deal with the challenges that we face,” said Zuma.

Job drivers

South Africa would market its identified six job drivers that are designed to achieve much-needed growth with decent jobs, the Presidency said in a statement on Tuesday.

The six job drivers are infrastructure development, agriculture, mining and beneficiation, manufacturing, the green economy, and tourism.

“Under infrastructure, energy ranks high up given the challenges that the country faces with regards to energy constraints,” the Presidency said.

South Africa will also market the new flagship project, Operation Phakisa, especially the component dealing with promoting the ocean economy.

“Areas of focus are marine transport and manufacturing activities such as coastal shipping, trans-shipment, boat building, repair and refurbishment, offshore oil and gas exploration, aquaculture and marine protection services and ocean governance,” said the Presidency.

Promotion of Investment

It said the country had further enhanced the investment legislative environment through the Promotion and Protection of Investment Bill, which had been concluded after “extensive consultations”.

“The Bill aims to update and modernise South Africa’s legal framework to protect investment and ensure that South Africa remains open to foreign investment.

“It is also designed to ensure that the country’s legal framework does not override existing legislation protecting investment.

“[It] ensures a balance between the rights and obligations of investors and of government, particularly in respect of Constitutional obligations to advance the public interest and clarifies standards of protection for investors – both foreign and domestic – by setting out provisions ordinarily found in Bilateral Investment Treaties (BITs) in a manner that is consistent with the South African Constitution and existing legal framework,” the Presidency said.

Economic blueprint

The Presidency said the NDP – South Africa’s plan to boost the economy and eradicate poverty and unemployment by 2030 – was already being implemented by all government departments.

“The plan shapes government’s budget allocation as we move towards 2030. Through the NDP, we also aim to position South Africa as a key destination for foreign direct investment. Key elements of the plan do not require additional resources and long lead times.

“Business has a significant role to play in the success of the NDP. It is crucial for business and government to work together to drive competitiveness and promote long- term growth, as well as the creation of jobs,” Zuma said.

Team South Africa in Davos

Follow Team South Africa at WEF Davos on @Brand_SA #SAinDavos or @Brand_SA #CompetitiveSA.

Source: SAnews.gov