LONDON, Oct 5 (NNN-SANEWS) — South Africa’s Deputy President Paul Mashatile says he is confident that his working visit to the United Kingdom and Ireland will improve trade and investment relations, which have been stagnant for years.
The Deputy President spoke during an engagement with the South African Chamber of Commerce (SACC) in London on Thursday. The SACC is an umbrella organisation and conduit for trade, community and investment into and out of South Africa.
The country’s second-in-command is in the United Kingdom for the second leg of his working visit to improve trade and investment relations between the nations and to woo investors following his travels to Ireland.
His interactions were centred on various issues, including the Government of National Unity (GNU), energy, infrastructure, and the measures to foster a favourable environment for trade and investment.
He reiterated that the political environment in South Africa is stable for investment because of the newly established GNU, which has been operational for less than 100 days and is already yielding results.
“Our numerous meetings with potential investors have revealed a shift in their attitudes and perceptions towards South Africa, indicating an optimistic outlook.
“Our alliance, based not on personal sentiments but on the aspiration to enhance South Africa and, consequently, the lives of our citizens, will undoubtedly sustain the GNU administration for five years.”
However, Mashatile said they will measure the GNU’s success based on the number of employment and entrepreneurs they assist in establishing sustainable enterprises.
“Businesses hope to continue working with the government in the public-private partnership that has reduced load shedding, improved transport and logistics infrastructure, and strengthened national capacity to combat crime and corruption,” the Deputy President said.
Shifting his focus to energy, he stated that investors have demonstrated that ending the load shedding that began in 2007 is the most positive news.
“They confirmed that it allows them to conduct business without uncertainty. The elimination of power outages was largely due to a series of measures implemented by the State-owned power utility, Eskom and government over the past two years.”
He also told the SACC that government was addressing the obstacles in the freight logistics system that continue to impede competitiveness and undermine economic growth.
“We are on a mission to create and sustain a bankable investment pipeline of priority, credible, quality and high-impact projects that span the country through Infrastructure South Africa, the primary driver of the National Infrastructure Plan 2050,” he explained.
Mashatile believes that the SACC plays an essential role in engaging with businesses to promote bilateral trade and investment links between the United Kingdom and South Africa.
“It is our responsibility as leaders in our respective regions to foster an atmosphere that encourages entrepreneurship, fosters innovation, and drives inclusive growth.”
In addition, he expressed his desire to increase South Africa’s exports of valuable goods and services to the United Kingdom.
“It is excellent that the two countries already exchange food and beverages. It is critical that we collaborate to create strategies to accelerate international trade and investment.”
Mashatile announced that the State was simplifying regulatory procedures through the Red Tape Task Team, making it easier for businesses to operate and invest locally.
He concluded his address with South Africa’s stance on peace and stability in Africa and globally, stressing that the nation is anti-war and pro-peace.
“We reaffirm our commitment to the inviolability of sovereignty and the importance of national security.
“More immediately, we support [silencing the guns]. We want to see peaceful and mutual coexistence between Russia, Ukraine, Israel, Sudan, and the rest of the globe, because war is terrible for business.” — NNN-SANEWS
