‘SA remains top destination for growth and investment’

With a message that the nation is still a “top destination for growth and investment,” the South African delegation to the World Economic Forum’s (WEF) annual meeting has returned.

This is according to a media statement the National Treasury issued on Monday.

The delegation for Team South Africa included the ministers of trade, industry, and competition, Ebrahim Patel; higher education, science, and innovation, Dr Blade Nzimande; communications and digital technologies, Mondli Gungubele; and health, Dr. Joe Phaahla.

Godongwana said the message to investors, civil society, businesses, and governments is that despite the many challenges it faces, South Africa is making progress.

“We took the opportunity of the WEF Davos gathering to remind our partners around the world that South Africa has made tremendous progress in the past 30 years since we achieved democracy,” he said.

“Yes, we face a number of obstacles to achieving policy that balances fiscal sustainability, growth-accelerating reforms, and targeted spending on social services and infrastructure.

“However, we are forging ahead and making good progress.”

Opportunity to address stakeholders

According to the National Treasury, the annual meeting in Switzerland offered an opportunity for South Africa to engage world leaders on a number of issues.

“[It] offered South Africa’s policymakers a genuine and rare opportunity to speak directly with a cross-spectrum of stakeholders in global affairs, exchanging views on how to weather the rise in geopolitical and economic tensions that are shaping today’s world.

“Climate, technology, trade, and multilateral cooperation were high on the agenda, as was South Africa’s upcoming presidency of the G20 [Group of 20] in 2025.

“In addition to its participation in the G20, the country is playing a key role in the expansion of the Brics [Brazil, Russia, India, China, and South Africa] group, as well as the deepening of intercontinental economic integration through the African Continental Free Trade Area,” the department said. – SAnews.gov.za

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