South Africa has been listed as the only country in Africa on the list of top 25 countries for Foreign Direct Investment (FDI), according to a new report.
The A.T. Kearney’s 2014 Foreign Direct Investment Confidence Index shows that South Africa climbed two spots to become the 13th most attractive destination for FDI.
The U.S. maintains its first place position from last year, followed by China and Canada.
The A.T. Kearney is a global management consulting firm with 59 offices in major business centres in 40 countries.
The South African government welcomed the report, saying “it shows that South Africa’s strategic partnership with foreign investors is gaining momentum.
South Africa’s Phumla Williams, the acting CEO of the Government Communication and Information System (GCIS), said “the report which cites South Africa as the only country in Africa on the list of top 25 countries demonstrates that our country’s blueprint on development is yielding results.
“South Africa offers lucrative opportunities for international investor partnerships, as the country is uniquely positioned as the gateway to Africa.
“More foreign companies are finding South Africa as an investment destination of choice.
“Our tax relief incentives, announced in 2011, have also contributed to attracting foreign direct investment’’.
The CEO said South Africa’s commitment to Renewable Energy Independent Power Provider Programme had been identified as one of the key drivers of its improved rating on the Index.
The programme, he added, was aimed at increasing the supply of electricity through renewable energy and to address socioeconomic and environmentally sustainable growth.
“South Africans are encouraged to embrace foreign direct investment and join hands with government in its initiatives to achieve the country’s economic vision.
“This advancement proves that South Africa is indeed a better place to live in now,’’ Williams added. (Xinhua