The 5th South Africa Investment Conference (SAIC) is held in Johannesburg, South Africa, April 13, 2023. South African President Cyril Ramaphosa said Thursday that the country has set a new target to mobilize approximately 2 trillion rands (about 111 billion U.S. dollars) in new investments over the five-year period of 2023-2028.(Xinhua/Zhang Yudong)
JOHANNESBURG, April 13 (Xinhua) -- South African President Cyril Ramaphosa said Thursday that the country has set a new target to mobilize approximately 2 trillion rands (about 111 billion U.S. dollars) in new investments over the five-year period of 2023-2028.
Ramaphosa made the remarks in his opening address at the 5th South Africa Investment Conference (SAIC), which opened in Johannesburg Thursday morning.
In 2018 when the first SAIC took place, South Africa set a target to raise 1.2 trillion rands in new investments over a five-year period of 2018-2023, according to Ramaphosa, who noted that the country has attracted 1.14 trillion rands worth of investment pledges through the last four investment conferences.
"Almost 70 percent of the projects announced since 2018 are either completed or on their way to completion. To date, approximately 460 billion rands of capital have been invested in building new factories, purchasing equipment, constructing roads, sinking mine shafts, and rolling out broadband infrastructure," Ramaphosa said.
The investments from the four SAICs held to date have stimulated industrial, technological and institutional modernization, supported the expansion of human capital and knowledge transfer, and created more jobs and learning opportunities, he said, adding that South Africa continues to be an attractive investment destination despite a strained domestic and global economic climate.
The 5th SAIC has attracted more than 1,300 delegates from both home and abroad. ■
South African President Cyril Ramaphosa delivers an opening address at the 5th South Africa Investment Conference (SAIC) in Johannesburg, South Africa, April 13, 2023. Ramaphosa said Thursday that the country has set a new target to mobilize approximately 2 trillion rands (about 111 billion U.S. dollars) in new investments over the five-year period of 2023-2028.(Xinhua/Zhang Yudong)
Guests participate in a discussion session at the 5th South Africa Investment Conference (SAIC) in Johannesburg, South Africa, April 13, 2023. South African President Cyril Ramaphosa said Thursday that the country has set a new target to mobilize approximately 2 trillion rands (about 111 billion U.S. dollars) in new investments over the five-year period of 2023-2028.
(Xinhua/Zhang Yudong)
Guests participate in a discussion session at the 5th South Africa Investment Conference (SAIC) in Johannesburg, South Africa, April 13, 2023. South African President Cyril Ramaphosa said Thursday that the country has set a new target to mobilize approximately 2 trillion rands (about 111 billion U.S. dollars) in new investments over the five-year period of 2023-2028.
(Xinhua/Zhang Yudong)
South African President Cyril Ramaphosa delivers an opening address at the 5th South Africa Investment Conference (SAIC) in Johannesburg, South Africa, April 13, 2023. Ramaphosa said Thursday that the country has set a new target to mobilize approximately 2 trillion rands (about 111 billion U.S. dollars) in new investments over the five-year period of 2023-2028.
(Xinhua/Zhang Yudong)
South African President Cyril Ramaphosa delivers an opening address at the 5th South Africa Investment Conference (SAIC) in Johannesburg, South Africa, April 13, 2023. Ramaphosa said Thursday that the country has set a new target to mobilize approximately 2 trillion rands (about 111 billion U.S. dollars) in new investments over the five-year period of 2023-2028.
(Xinhua/Zhang Yudong)