The Deputy Minister of Trade and Industry Ms Elizabeth Thabethe urged business people from India to consider investing in South Africa, saying there are myriad reasons why the country is best suited for their investments.
Thabethe was addressing about 200 business people from India and South Africa at a business seminar that was hosted by the Department of Trade and Industry (the dti) at the Trident Hotel in Mumbai, India today. The seminar was part of the Investment and Trade Initiative (ITI) that began in New Delhi on Monday.
"The South African economy offers a multitude of opportunities. This is something to which a number of Indian companies doing business in our country can attest to. Companies such as Tata, Godrej, Infosys and Ranbaxy have already established themselves and made a formidable presence in South Africa. And I’m sure they are not regretting their decision to invest in South Africa," said Thabethe.
She added that SA and India had laid the best seeds of cooperation to make the environment conductive for businesspeople to do business in the two countries.
"It is now time for these seeds to receive the necessary care so that they can spring to life in the months to come and bear many high-quality fruits. I believe that the fundamentals are in place to steer us towards achieving the US$15 billion target by 2014 as set by President Jacob Zuma during his state visit to India in 2010," said Thabethe.
Thabethe then reeled off numerous advantages of doing business in South Africa that could appeal to Indian business people considering investing in South Africa, from the country’s breath-taking beauty and natural wonders to the wealth of natural resources and favourable weather conditions.
"South Africa is also one of the most sophisticated, diverse and promising emerging markets in the world. It is strategically located on the African continent and is a key investment location, both for the market opportunities that lie within its borders and for the opportunity that exists to use the country as a gateway to the rest of the continent, a market of nearly one billion people. This makes South Africa an ideal partner for captains of industry from India who would like to be part of the next growth point, the next dynamic investment destination, which is Africa," said Thabethe.
Tomorrow Deputy Minister Thabethe will be leading International Women’s Day celebrations during an event that has been arranged for the South African women delegates and their Indian counterparts.
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