South Africa unveils new strategy to lure more investment
South Africa’s Presidency unveiled a draft plan to draw more investment to help grow the coronavirus-battered economy and create jobs for the 34.5% of its labor 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.
The document 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.