South Africa Unveils New Strategy to Lure More Investment
(Bloomberg) -- South Africa’s Presidency unveiled a draft plan to draw more investment to help grow the coronavirus-battered economy and create jobs for the 34.5% of its labor force that’s unemployed.
Most Read from Bloomberg
Elon Musk’s Ultimatum to Tesla Execs: Return to the Office or Get Out
Soros’s Money Manager Warns Recession ‘Inevitable’ But Market Timing Is Off
Yellen Says ‘I Was Wrong’ Last Year on the Path of US Inflation
“The Country Investment Strategy is aimed at creating a fully integrated and coordinated approach to investment through aligning government priorities and channeling investment towards areas with the greatest growth potential,” the Presidency said in the document, which was published in the Government Gazette on Tuesday. Those should be “supported by aptly co-ordinated incentive schemes and anchored by quality institutions,” it said.
Key industries being targeted for investment include finance, insurance, real-estate, business services, logistics, manufacturing, mining, electricity, water and agriculture.
The public has a month to comment on the proposed plan.
Most Read from Bloomberg Businessweek
China Youth Unemployment Crisis Leaves Tens of Millions Jobless
Gamification Took Over the Gig Economy. Who’s Really Winning?
©2022 Bloomberg L.P.