PRETORIA-- The Department of Trade and Industry (dti) is undertaking a week-long investment mission to Japan this week with Presidential investment envoy Phumzile Langeni in line with President Cyril Ramaphosa's investment drive to attract 100 billion US dollars worth of investments into the economy over the next five years.

President Ramaphosa has appointed four presidential investment envoys in support of his government's investment drive.

Trade and Industry Minister Rob Davies said here Monday the mission is to engage and increase the awareness of South Africa's sectoral value proposition to Japanese companies, some of which are already excelling in South Africa and to encourage the companies to both invest and expand in South Africa.

He said the mission would further deepen the economic co-operation and provide an opportunity to develop partnerships, joint ventures and supplier development arrangements between Japan and South Africa.

Japan has always been a long-term Top 10 investment partner of South Africa. Japan has more than 140 companies operating in South Africa such as Toyota, Nissan, NGK, Sumitomo Rubber Industries, among others, and finds South Africa as a regional manufacturing hub into Africa," he added.

The delegates will meet with leading Japanese companies operating in various sectors such as banking, asset management and automotives, including the original equipment manufacturers.

South Africa, he added, wanted to derive value from its historically cordial relations with Japan, as South Africa embarked on industrialization and developing regional value-chains.

The delegation will engage with Japanese government, business federations, Japanese government agencies, banking institutions, as well as current and potential investors.

The mission will conclude on Saturday.

Source: NAM NEWS NETWORK

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