Home  »  Articles   »   Deadline for Comment on Country Investment Strategy Extended

Articles
Deadline for Comment on Country Investment Strategy Extended

July 12, 2022

The Presidency

The deadline for comment on the Draft Country Investment Strategy (CIS) has been extended.

The presidency published the proposed CIS in Government Gazette 46426 at the end of May 2022 for comment.

The extension notice was published in Gazette 46675.

Cabinet approved the Draft CIS in March 2022 for publication for comment.

According to the cabinet statement, the Draft CIS is anchored on the country’s priority investment and economic development sectors such as finance, insurance, real estate and business services; transport and logistics; manufacturing; mining and quarrying; electricity, gas and water and agriculture and agro-processing.

The Draft CIS also provides “investment mechanisms to attract small, medium and micro enterprises into the economic growth drive”.

Cabinet added that the Draft CIS is aligned to the goals of the National Development Plan, Economic Reconstruction and Recovery Plan, Re-imagined Industrial Strategy and the recently adopted National Infrastructure Plan 2050.

According to the executive summary, South Africa’s inaugural CIS aims to position South Africa as a “key preferred African investment destination by attracting and facilitating quality Foreign and Domestic Direct Investment into the country, in a well co-ordinated manner, anchored by quality institutions and robust economic infrastructure networks”.

The Draft CIS aims to achieve this by:

  • catalysing a new investment model to address current under-investment;
  • attracting quality greenfield investments into South Africa;
  • identifying high-impact and high-growth industries that will accelerate contributions to GDP;
  • supporting existing industries and developing new industries;
  • consolidating and strengthening existing capacity in identified priority sectors through enhancing policy certainty; and
  • targeting areas of intervention together with the mobilisation of resources and improved institutional co-ordination.

Comment is now invited until 27 July 2022.