PRETORIA, April 6 (NNN-SANEWS) — The country is gearing up to host the fifth South Africa Investment Conference (SAIC) on April 13 in Johannesburg.
This conference is the final leg of the current investment drive to attract R1.2 trillion over five years.
The SAIC attracts delegates from South Africa and the rest of the globe.
Last year, the fourth SAIC raised R367 billion in investment commitments, bringing the five-year investment target firmly into sight.
Since the first investment conference in 2018, South Africa attracted R1.14 trillion in commitments. This represents 95% of the initial target and has translated into investments across a wide range of economic sectors.
Of the 152 investment announcements made previously, 45 projects have already been completed, while a further 57 projects are currently under construction.
These investments have resulted in new factories, call centres, solar power plants, undersea fibre optic cables, the expansion of production lines, and adoption of new technologies.
Importantly, the new investments also significantly contribute to the national goals of socio-economic development, and the creation of sustainable jobs, reduction of poverty and inequality.
These investments have also contributed to a substantial increase in local production and encouraged efforts to buy local.
The 2023 SAIC takes place as the country deals with a constrained energy supply that has resulted in persistent load shedding. In response to the energy challenges, government, through the Energy Action Plan, has announced several interventions to turnaround the situation. — NNN-SANEWS
