South Africa today is one of the most sophisticated and promising emerging markets in the world. The unique combination of well developed first-world financial markets, and a rapidly emerging market economy, has risen to an entrepreneurial and dynamic investment environment with many global competitive advantages and opportunities.
The vision of South Africa’s future is written out in the comprehensive National Development Plan launched in August 2012 which outlines proposed interventions aim to eliminate poverty by 2030 by expanding economic opportunities by: diversifying exports; strengthening links to faster-growing economies; enacting reforms to lower the cost of doing business: moving to more efficient and climate-friendly production systems; and encouraging entrepreneurship and innovation.
Goal of the Government is to create 5 million jobs by 2020 and reduce unemployment and poverty.
Cabinet set up the Presidential Infrastructure Coordinating Commission (PICC) to bring together representatives of the three spheres of government.
The PICC has a mandate to develop a 20 year infrastructure pipeline, to ensure forward planning of infrastructure development and curtail the stop-start syndrome around building infrastructure. Over the Medium-Term Expenditure Framework (MTEF) period, €70 billion has been approved and budgeted for public sector projects with some €25 billion in the energy sector and €22 billion allocated to transport and logistics projects.
In accordance to the National Development Plan (NDP) and the framework provided by the programmatic approach of the New Growth Path (NGP) the key strategies in National Industrial Policy Action Plan (IPAP) has been set up. The overriding goal of the IPAP is to support the growth and diversification of South Africa’s manufacturing sector. The major sectors highlighted in the IPAP are: Automotive, Clothing, Textile, Leather and Footwear, Agro Processing, Metal fabrication, Capital and Rail Transport Equipment, Pharmaceuticals , Film Industry, Business Process Services, Green Industries and Advanced Manufacturing.
The South African Government offers an array of incentive schemes to stimulate and facilitate the development of sustainable, competitive enterprises. A variety of these incentive schemes seek to support the development or growth of commercially viable and sustainable enterprises through the provision of either funding or tax relief. Most of the incentives are housed within the Department of Trade and Industry (
www.thedti.gov.za), with a few others in other government departments.
Direct link to Incentive publication:
http://www.thedti.gov.za/DownloadFileAction?id=727
One of the main reasons for South Africa becoming one of the most popular trade and investment destinations in the world is due to the country ensuring that it can meet specific trade and investment requirements of prospective investors.
South Africa’s Attractiveness
- South Africa, the most attractive country in Africa for investors, (Ernst & Young's third Africa Attractiveness Survey , May 2013)
- South Africa - the single largest investor in Africa by number of FDI projects in 2012
- According to the World Bank, South Africa ranked 39th out of 185 in the world for the ease of doing business in 2012.
- South Africa is ranked 2nd in the world for the accountability of its private institutions and 3rd for its financial market development (Global Competitiveness Report 2012)
- South Africa’s banks rank 2nd in the world for soundness according to the Global Competitiveness report 2012/2013
- South Africa ranked 1st out of 142 countries in respect of regulation of security exchanges, according to the World Economic Forum Global Competitiveness Report 2012/2013
- South Africa ranked 1st in respect of auditing and reporting, according to the Global Competitiveness Report 2012/2013
The Embassy is available to assist with all trade and investment enquiries.
MAJOR CHAMBERS OF COMMERCE IN SOUTH AFRICA
EXPORT COUNCILS
INDUSTRY ASSOCIATIONS
TENDERS
The information on the latest tenders available on the SA Government homepage:
www.info.gov.za/documents/tenders/index.htm
PROVINCIAL INVESTMENT AGENCIES
BUSINESS EXHIBITIONS IN SOUTH AFRICA
MAJOR BANKS
BUSINESS NEWSPAPERS ONLINE:
OTHER USEFUL WEBSITES:
