CAPE TOWN – President Cyril Ramaphosa on Wednesday moved to revive his investment drive, vowing that the government would overhaul the foreign direct investment promotion architecture in South Africa.
“We recognise the urgency with which we need to reform our investment promotion architecture to remove policy, regulatory and other impediments,” he told a breakfast seminar ahead of the start of the World Economic Forum on Africa in Cape Town. “FDI helps in economic development and is especially important for developing economies as it leads to job creation and wealth-creating economic growth,” he said.
The meeting has attracted more than 1 000 global leaders in business, government, civil society and academics.
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