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South Africa: Western Cape Attracts Foreign Investment in Key Growth Sectors
Source: Issued by: Western Cape Economic Development and Tourism
Source Date: Thursday, June 27, 2013
Country: South Africa
Created: Jun 27, 2013

In South Africa, FDI flows dropped from R60 billion in 2011 to R46 billion in 2012.
The UN report cites “economic fragility” and “policy uncertainty” in the world’s biggest economics as some of the reasons for the decline in FDI.

Minister Winde said despite the international trend, the Western Cape continued to attract a steady stream of foreign investment.

“The numbers show investor confidence for the Western Cape is positive. Although the value of the investments decreased, the number of projects increased from 22 in 2011 to 26 in 2012.

“This financial year is already off to a good start, an international firm in the renewable energy industry has invested R10 million. It’s clear the Western Cape is a sought-after investment destination,” said Minister Winde.

Minister Winde said between 2009 and 2012 FDI projects resulted in 6 900 jobs.

In addition, FDI assisted in the developing of key growth areas such as ICT and innovation.

“One of the biggest investment areas in 2012 was ICT and internet infrastructure. Software publishing was also top performing sector.

“The Western Cape Government recognises the importance of developing technology and through initiatives such as investment in the broadband rollout, we are hoping to position the province at the forefront of Africa’s technology revolution,” said Minister Winde.

For media queries, please contact:
Bronwynne Jooste, Spokesperson for the Ministry of Finance, Economic Development and Tourism
Tel: 021 483 3550
Cell: 082 454 4365
E-mail: bronwynne.jooste@westerncape.gov.za
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