Investment quietly flowing in
SA has attracted close to R10-billion in foreign direct investment in the past 20 months, much of it from non-traditional sources such as the Middle East, Southeast Asia and South America, Investment SA said.
Investment SA, a Section 21 organisation and the Department of Trade and Industry's official national investment promotion agency, says more than half of the investment went into services, followed by manufacturing, tourism and mining.
Rafiq Bagus, CEO of Investment SA, says despite prevailing sentiment towards government initiatives like Gear and a reported lack of confidence in the economy, there is a steady flow of money into the country from foreign governments, trade organisations and the private sector.
A large slice of the investment is coming from "non-traditional" trade and investment partners which had restricted contact with SA prior to 1994, but are now as interested and committed to the country as many of the more traditional partners such as the US and large European economies.