Deputy Minister Ntuli encourages Chinese companies to increase investment in South Africa

The Deputy Minister of Trade and Industry, Bongi Maria Ntuli, says South Africa beckons Chinese companies to increase investment in the country.

Ntuli was speaking at a Trade and Investment Business Forum, attended by more than 100 Chinese and 20 South African business people, representing companies in the defence, security, arts and craft, and textile sectors.

The forum was held at the Portman Ritz-Carlton Hotel, in the Chinese city of Shanghai, where she is on a five day trade and investment mission.

"South Africa, today, is an emerging market in the world, and has a number of exciting trade and investment opportunities. We have a combination of a well developed business support and dynamic investment environment that gives us a number of global competitive and comparative advantages and opportunities. As an open economy, we would welcome greater investment from China," said Ntuli.

She added that she would like to see partnerships being established between the South Africa and Chinese companies to support economic development in South Africa, build local industrial capacity, and support the integration of local production value chains.

"There are many enormous opportunities in our country and the sub-continent, particularly for upgrading existing or new investments in manufacturing across a range of sectors both for domestic and export markets, including to the growing African markets.

"We have launched the second phase of our industrial policy in a three year second industrial policy action plan (IPAP 2). The plan represents a significant step forward in strengthening our efforts to promote long-term industrial development and industrial capacity beyond our traditional strengths in commodities and non-tradable services," she added.

Speaking at the same event, South Africa's Consul-General to Shanghai, Vika Khumalo, urged Chinese companies to consider investing in the South African aviation and aerospace industry.

"During the past decade, South Africa emerged as one of the global players in the aviation and aerospace industry as a result of its technical expertise and hi-end manufacturing capabilities. For South Africa, the development of our aviation sector has been essential for trading with other nations in Africa, as well as development of our domestic infrastructure where charter-flights have made access possible to otherwise remote destinations," said Khumalo

Yesterday, Ntuli and the business delegation she is leading, attended the South African national day flag raising ceremony, and Women's Day celebrations at the Shanghai World Exposition 2010.

Former Deputy President Baleka Mbete addressed the ceremony, while the Minister of Arts and Culture, Lulu Xingwana spoke at the Women's Day celebrations. South African artists Thandiswa Mazwai, Sibongile Khumalo, Deborah Fraser, Chomee and Loveline Madumo entertained guests.

For more information, contact:
Bongani Lukhele
Tel: +8618621152679
E-mail: BLukhele@thedti.gov.za

Sidwell Moloantoa Medupe
Tel: 012 394 1650
Cell: 073 522 6801
E-mail: MSMedupe@thedti.gov.za

Source: Department of Trade and Industry