President Ramaphosa says hopeful investment in SA will help create jobs – SABC News

President Cyril Ramaphosa said he hopes that the investment inflows from the 4th South African Investment Conference will help create jobs. many poor citizens.

Earlier, at a meeting in Sandton, workers protested that dairy company Clover had fired them.

Thousands of workers have dropped tools in protest of layoffs in this year’s Begging. The union accused the company of breaking a promise to create more than 500 jobs in five years after it was acquired by a group of investors led by the Israel-based Central Bottling Company.

“Of course, workers at Clover will have disputes with employers and there will always be disputes with employers and employees,” Ramaphosa told SABC at the meeting. “We have a fairly sophisticated and mature labor law. deal with it And the reason we are enforcing these laws is that we anticipate that there will be disputes, such as dismissals and dismissals, which we have to deal with in terms of the framework we have in place.”

SA dealing with corruption and crime

Speech to delegates at the Ramaphosa meeting Convincing potential investors that South Africa is tackling corruption and crime..

The one-day meeting is part of a five-year plan to attract Rs 1.2 trillion in investment by the end of 2023.

The president said that since the inaugural meeting in 2018, 770 billion rupees have already been promised. He encouraged potential investors to be part of South Africa’s growth story.

“As we continue on the road to rebuilding and recovery, I urge all investors, entrepreneurs and entrepreneurs to join us on this journey. As an investor, you need to know that your investments are safe, your operating environment is stable, and supported by policy certainty and regulatory safeguards.”

He was confident that his investment in South Africa would be safe as law enforcement agencies start functioning optimally again.

“Many of the companies represented by many of you here will come forward to make new investment commitments. They will do it because they see an opportunity in this country. They see beyond difficulties and challenges. They see reform and progress. They see an open society that has allowed us to weather many storms. They see strong and vibrant democracy, diverse media, and a vibrant civil society. They see strong institutions, an independent judiciary, and the rule of law. After 10 years of state occupation, they see a country facing corruption and crime. The state is rebuilding law enforcement and strengthening the nation’s capacity.”

Cyril Ramaphosa, president of SA Investment Conference 2022.

SA to achieve your investment goals

The president said South Africa had two-thirds left before reaching its new investment target of 1.2 trillion rupees.

Since the start of the 2018 investment conference, more than 770 billion rupees of commitments have already been recorded. Ramaphosa said the country is progressing well to achieve its goals.

“Despite the impact of the pandemic, by the time the 3rd South African Investment Conference in 2020 takes place, we have raised a total investment commitment of Rs 747 billion. You have two-thirds left to reach the goal. Of the approximately Rs 747 billion, about Rs 316 billion has been invested so far. Of the 152 investment commitments, 45 projects were completed. An additional 57 are under construction. Fifteen have been put on hold in several cases due to the impact of the pandemic.”

Several companies also made appointments on Thursday. US-based subscription streaming service Netflix has promised an investment of Rs 929 million, while Anglo American has promised an additional Rs 10 billion.

President Ramophosa is expected to close the meeting late in the evening, while Trade, Industry and Competition Minister Ebrahim Patel is expected to tally all pledges. Further report by Ntebo Mokobo

President Ramaphosa says hopeful investment in SA will help create jobs – SABC News

Source link President Ramaphosa says hopeful investment in SA will help create jobs – SABC News

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