Eyeing at increased investments, South African diplomats invited Indian entrepreneurs to explore the various business opportunities that their country has got to offer; the South African government is willing to offer incentives for the Indian entrepreneurs in order to encourage investments, the diplomats informed.
Ben Joubert, Deputy High Commissioner of South Africa to India, during an interactive session on ‘Emerging Business Opportunities in South Africa’ highlighted that their country has huge potential with a well-expanded market with over 200 million ready consumers.
He further said that the country’s industrial sector is operating in a stable and open ecosystem putting up a fair case for fresh investments.
Citing the National Development Plan (NDP) 2030 of South Africa, the diplomat said that it offers a long-term perspective and defines a desired destination and identifies the role different sectors of society need to play in reaching that goal.
He added that South Africa has identified specific sectors for investment and invited Indian business community to invest in them. South African government was providing incentives and initiatives besides offering a regulated and secure environment to investors.
Recado Andrew, Minister Counselor – Economic, High Commission of South Africa, who was also present during the interaction informed of the priority sectors that South Africa is looking at for FDI, Andrew said that sectors including advanced manufacturing, nanotechnology, metals, mining & beneficiation, biofuels, agribusiness, automotives & components, capital equipment, precision engineering and aerospace are open for investments.
Also, film production, tourism, oil & gas, boat building, ICT and electronics, BPO (Business Processing & Outsourcing), chemicals and bio-chemicals, plastics & composites, (Bio) pharmaceuticals & medical devices, leather and footwear, forestry products & furniture, energy and renewables, infrastructure development, waste management, and energy efficiency & cleaner technology, are the other priority sectors ready to attract investments sectors ready for investment.
The interactive session on ‘Emerging Business Opportunities in South Africa’ was organized by FICCI in partnership with High Commission of South Africa.