CAPE TOWN – InvestSA, a division of the Department of Trade and Industry (the dti) and the World Bank are hosting a three-day Foreign Direct Investment Strategy consultation and capacity building workshop with sub-national Investment Promotion Agencies (IPAs); Special Economic Zones / Industrial Development Zones and Government stakeholders from November 7 to 9 in Sandton, Johannesburg.
The World Bank facilitated an institutional assessment of Investment South Africa which includes the development of an integrated Strategy for Foreign Direct Investment (FDI) in April 2018. This exercise includes consultations with a wide stakeholder community including investors and sub-national Investment Promotion Agencies, SEZs and IDZs.
The InvestSA Institutional Assessment aims to further build a strategic approach based on international best practice; leverage on a strategic institutional framework; learn from local experience and expertise; and to strengthen the South African Investment Promotion practitioners.
The exercise will further yield an Integrated Investment Strategy for South Africa that is key to the Investment Life Cycle and the President’s Investment mobilisation drive of R1.2 trillion over five years. The Presidential Investment target necessitates having an integrated investment targeting approach across all three spheres of government.
The consultations will be facilitated by the World Bank Group that is supporting InvestSA with the analysis of policies impacting on foreign direct investment; institutional; legal and regulatory barriers to FDI, review of industry sector plans; analyse trends in FDI generation and the typology of FDI generated. This endeavour will show South Africa’s competitive advantages in attracting different types of FDI.
The workshop will take advantage of the opportunity of convening national and sub-national IPAs, to provide capacity building on best practices in FDI generation and retention.
BUSINESS REPORT ONLINE