SA seeks ‘conducive environment’ for business - Ramaphosa

Staff Writer | Aug 30, 2019
South Africa was a ‘state that can work with the private sector to promote competitiveness and assure the success of our business partners’, the president told a conference in Japan.

President Cyril Ramaphosa told the South Africa-Japan Business Forum in Yokohama, Japan that the government had ‘embarked on a number of initiatives aimed at creating what we call an Entrepreneurial State’.

Central to this was creating ‘a conducive environment for business to thrive’.

Ramaphosa said the country was being held back by ‘inequalities … inherited from our past and which continue to undermine inclusive economic growth’.

 ‘It is for this reason that we have pursued policies over the last 25 years that have sought to provide black South Africans with skills, assets and opportunities that were denied to them under apartheid.

‘As we intensify these efforts – by, for example, refining our black economic empowerment policies and accelerating land reform – we continue to strengthen the rule of law, ensure regulatory certainty and offer extensive protections for investors.’

However, the IRR has pointed out that the measures the Ramaphosa administration is pursuing – from minimum wage law and expropriation without compensation to NHI, prescribed assets, and stepping up race-based empowerment demands – have already had the effect of deterring investment and of limiting the scope of the private sector in generating growth and creating jobs.

 

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