SA conveys openness to do business at WEF

Deputy President Cyril Ramaphosa has concluded his visit to Davos where he participated in the World Economic Forum (WEF), conveying to the international community South Africa’s openness to do business.

The Deputy President also stressed the country’s status as a preferred destination for investment.

The delegation highlighted that South Africa remains focused on pursuing a path to faster, inclusive and job-creating economic growth.

It also highlighted that government, business and labour have made significant progress in pursuing economic reforms; South Africa’s strong institutions, stable macroeconomic environment, developed financial markets and strategic position provide a solid platform for stronger growth.

The team also highlighted that the country remains committed to strong fiscal discipline; South Africa is taking steps to strengthen policy certainty; government is working to achieve a more supportive business environment, including through Invest SA and incentive programmes; government has prioritised energy security; and that massive infrastructure investment will continue to bolster domestic demand and productive capacity.

During the visit, Deputy President participated in a number of WEF sessions including Powering Africa; Operationalisation of the Sustainable Development Goals; Coalition for African Research and Innovation and the Business Interaction Group on South Africa.

The Deputy President concluded his visit on Thursday. The Presidency said the WEF was attended by United Nations Secretary-General Antonio Guterres and WEF founder Klaus Schwab, among others.

Deputy President Ramaphosa was leading a 56-person top level government, business and labour delegation to the 2017 World Economic Forum held in Switzerland under the theme, Responsive and Responsible Leadership.

The South African delegation included government Ministers Pravin Gordhan, Jeff Radebe, Rob Davies, Ebrahim Patel, Nomvula Mokonyane and KwaZulu-Natal MEC for Economic Development Sihle Zikalala, Labour leader Dennis George and business leaders including Jabu Mabuza, Patrice Motsepe, state owned enterprise executives from among others the Industrial Development Corporation Geoff Qhena and Public Investment Corporation Dan Matjila.

Deputy President Ramaphosa returned to South Africa on Friday