JOHANNESBURG, Nov.19 (Xinhua) -- South African government is working hard to improve the investment climate to lure domestic and international, said South African Minister of Trade and industry Rob Davies on Monday.
Davies was speaking at Southern African-German Chamber of Commerce and Industry roundtable discussion. He said they would like to meet President Cyril Ramaphosa's target of 100 billion U.S. dollars investment in the next five years.
"In order to achieve that it has been identified that we need to improve the investment environment of this country, hence the government is doing everything possible to improve the country's investment climate and make it an attractive destination for investors," said Davies
He stated that the government has made some interventions to make the country an attractive investment destination. Davies said they have changed the visa regime and provided certainty in the mining sector with the new mining charter.
"We have also worked energetically to try and facilitate improved service for foreign and domestic investors through our entity called Invest South Africa. It provides services from an expression of interest to post-investment support to assist investors to find their way through all of the country's regulatory issues," said the minister.
Davies mentioned that South Africa fully supports the establishment of Africa free trade area which would embrace 1.2 billion people and 3.4 trillion U.S. dollars combined of the gross domestic product.
The meeting was attended by Germany President Frank-Walter Steinmeier and business community from both countries.
