South Africa remains open for business and is an attractive destination for investments, says President Jacob Zuma.

Addressing a business delegation at the World Economic Forum (WEF) in Davos Switzerland, the President identified manufacturing, tourism, mining and beneficiation as some of the key job drivers for investment.

President Zuma said the country has committed itself to achieve 5% growth by 2019 if the country is to create jobs.

“Our target to attract investments for the year 2013-2014 was R50 billion. We have achieved an investment pipeline of R60.5 billion of potential investment projects, reflecting both domestic and foreign projects.

“We are inviting both domestic and foreign business partners to invest in the South African economy,” he told the business delegation in Davos.

Unlocking SA’s investment potential

Zuma noted that the government has also invested in unlocking the potential of the country’s oceans through the new Operation Phakisa National Development Plan delivery programme

“The blue economy offers opportunities in marine transport and manufacturing activities, such as coastal shipping, boat building, repair and refurbishment, offshore oil and gas exploration, aquaculture and marine protection services and ocean governance.”

To further boost industrialisation and manufacturing, the country has introduced 10 Special Economic Zones (SEZ), which will help create new industrial hubs and clustering value chains.

“Africa is therefore a growth frontier. We urge you as South African business to continue exploring opportunities within South Africa and also the continent.

“There are many opportunities in South Africa. We believe the goals that are outlined in the National Development Plan are achievable,” he said.