There will be no apology to those who intend to supply inputs to the infrastructure development programme, as they will be asked to invest or manufacture a proportion of their products in South Africa. This was said by the Minister of Trade and Industry, Dr Rob Davies during the investment seminar held yesterday in the Chinese capital of Beijing where he isleading a delegation of 51 businesspeople on thefinal leg of the South African Expos in China.
Minister Davies said the South African government had committed R800 billion for infrastructure development in the next three years and had already spent R1 trillion over the past five years, which he said created opportunities for investors.
"While we develop our infrastructure, those who will be providing inputs should be ready to invest or manufacture in the country, we will not be spending all this money on importing goods," he added.
Minister Davies, who described South Africa as industrialised, said many investment opportunities were arising in South Africa including in the agricultural and mineral products, where investors could tap in and beneficiate.
"While re-industrialising our country, we also urge that industrialisation be an objective of the African continent. As a continent, weneed to move away from providing, supplying and importing goods in the global division of labour and start adding value to them,’" said Minister Davies.
He described the South Africa-China relations as fast-growing and had resulted in more companies setting up in both countries.
Minister Davies also met with investors in the Information and Communication Technology and mineral beneficiation sectors to discuss how government can assist them expand their investments in South Africa.
The 2014 expos, which aim to showcase South African value-added products and strengthen trade relations between the two countries, end in Beijing today.
Minister Davies addresses an investment seminar in Beijing, China.
Enquiries:
Sidwell Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
