NEW YORK CITY-- President Cyril Ramaphosa has ended his visit to New York City to attend the 73rd United Nations General Assembly session here to address concerns of businesses thinking about investing in South Africa.
The President, supported by his Trade and Industry and Finance Ministers, met the top executives leading American companies and attended a seminar with several business leaders on Thursday before leaving for home to explain his administration's work to expand the economy while making the case for greater investment in the country.
It was an engagement for the government to better understand what worries investors while offering greater insight into his plans to achieve the ambitious investment target of 100 billion US dollars over five years.
It is our intention, through this investment drive, to substantially expand the presence of US companies in South Africa. Among other things, this requires that we improve the investment environment in the country and that we take decisive measures to address the key structural challenges in our economy," Ramaphosa said.
"We are, therefore, investing significantly in our education and skills development programmes, using our competition policies to create opportunities for new market entrants, reducing the cost of business and developing our economic infrastructure."
He explained that the country had embarked on a new path of renewal and growth, finalising a new Mining Charter, cleaning up State-owned enterprises (SOEs) while going to great lengths to contextualise the land expropriation debate within an international context.
Our aim is to unlock the economic potential of our country, which has been constrained for decades by policies of racial exclusion. For generations, black South Africans were denied opportunities to own assets, establish businesses, acquire skills and enter professions. Nowhere was this more apparent than in the patterns of ownership and usage of land, he said.
Source: NAM NEWS NETWORK