South Africa Intends To Increase Pace Of Investment Into Country's Economy - President

South Africa intends to increase the pace of investments into the country from local and international sources, South African President Cyril Ramaphosa, said at a press conference at the World Economic Forum in Davos on Wednesday

MOSCOW (UrduPoint News / Sputnik - 23rd January, 2019) South Africa intends to increase the pace of investments into the country from local and international sources, South African President Cyril Ramaphosa, said at a press conference at the World Economic Forum in Davos on Wednesday.

"We aim to sustain and further increase this growth and investment, having raised $20 billion. This year we are going to hold another investment conference where we want to raise more and we want to hasten the pace of investments from both local investors as well as offshore investors. We are dedicating effort and resources to investment promotion and facilitation," Ramaphosa said.

Ramaphosa added that four special economic envoys appointed to attract investment into the country have been successful in raising the expectations of investors.

"[Investment envoys] have also been engaging investors on concerns that investors have raised. Admitted a number of investors have raised their concerns but they have also raised their expectations," Ramaphosa said.

In April, Ramaphosa unveiled a plan to attract $100 billion of investment into South Africa within the next five years as part of a package of economic reforms. At an investment conference in Johannesburg in South Africa, Ramaphosa unveiled that companies had already pledged $20 billion worth of investment.