29 October 2006
The International Investment Council met for its 11th meeting between the 27
and 29 October 2006 at Pezula Hotel and Resort, Knysna, Western Cape.
The Council welcomed the Medium Term Budget Policy statement presented to
Parliament earlier this week. The Council noted the current buoyant economic
conditions highlighted in the statement; in particular the trend towards a
higher Gross Domestic Product and employment growth rates.
In this connection, the Council appreciated Government's consistency in
pursuing sound economic policies as well as efforts to strengthen sustained and
shared growth and 2014 targets of halving poverty and unemployment.
The Council similarly reiterated its confidence in Government's commitment
and ability to achieve the Accelerated and Shared Growth Initiative for South
Africa (AsgiSA) growth targets. In this context the Council emphasised the need
for continued improvement in the quality of education and skills training.
The Council noted the importance of boosting exports to create sustainable
employment, and discussed modalities of public-private partnerships in
supporting industrial development strategies.
A progress report of the Jobs for Growth project was considered. The
initiative supports the development of rural production co-operatives based on
the savings of poor rural people leveraged into investments by the Development
Finance Institutions. Council member, Percy Barnevik, is one of the drivers of
the programme, which is based on a project Mr Barnevik is associated with in
India.
The Deputy Minister of Finance, Mr Jabu Moleketi, MP, presented the plan for
the implementation for the 2010 FIFA World Cup. The Council expressed its
confidence in South Africa's ability to host a successful World Cup. In this
respect, members noted that several factors made South Africa a unique country
with a rich history, heritage and enormous potential. They called upon all
sectors of South African society to throw their weight behind the 2010 World
Cup.
The Council was also briefed about progress in the New Partnership for
Africa's Development (NEPAD) processes, especially as it concerns the support
of the international community, including the work of the Secretary General's
Panel on NEPAD.
Please find the names of attendees below:
1. The IIC members who attended are:
Dr M Kolhaussen - Commerzbank
Prof Dr J Schrempp - Daimler Chrysler
Mr P Barnevik - Astra Zeneca
Mr M Miyaji - Mitsubishi
Mr Roger Agnelli - Companhia Vale do Rio
Ms Anne Lauvergeon - Areva Group
Mr Victor Veckselberg - Renova
Mr Frank Savage - Savage Holdings
2. The government delegation included:
The President of the Republic
The Deputy President
Minister in The Presidency
Minister of Trade & Industry
Minister of Finance
Minister for Public Enterprises
Minister for Agriculture & Land Affairs
Minister of Minerals & Energy
Minister of Communications
Deputy Minister of Finance
Deputy Minister of Trade and Industry
Both Deputy Ministers of Foreign Affairs
For more information, please contact:
Mukoni Ratshitanga
Tel: (012) 300 5436
Cell: 082 300 3447
Issued by: The Presidency
29 October 2006
