NEWS
23/01/2018 07:09 SAST | Updated 23/01/2018 07:09 SAST

SA To Davos: We Are Open For Business

Cyril Ramaphosa's team wants the world to know that SA is an attractive investment destination.

GULSHAN KHAN via Getty Images
Deputy President Cyril Ramaphosa (C) reacts while flanked by Minister of Finance Malusi Gigaba (L) and Minister in the Presidency for Planning, Monitoring and Evaluation, Mr Jeff Radebe (R) during the Pre-World Economic Forum (WEF) Breakfast ahead of the WEF Annual meetings in Davos, at the Hilton Hotel in Sandton on January 18, 2018.

The South African team representing the country at the World Economic Forum in Davos will use the opportunity to tell the world that South Africa is open for business, IOL reported. The team of Cabinet ministers and business leaders is led by Deputy President Cyril Ramaphosa.

The presidency reportedly said that Davos presents an opportunity for the country to showcase its attractiveness as an investment destination and trade partner, and to tell the world of plans to security improved economic growth.

According to BusinessTech, the full team of 58 South Africans includes 45 business leaders, seven government officials, three academics and three members of the media.

In a statement, the presidency reportedly said: "The South African Team under the leadership of Deputy President Ramaphosa will utilise the opportunity presented by the World Economic Forum to communicate that South Africa remains open for business and highlight the work that the government, working together with business and labour, is doing to ensure an improved economic outlook and nurturing for a higher economic growth trajectory."

South Africa also wanted to emphasise that South Africa "has a stable and predictable macroeconomic framework which continues to underpin economic policy, ensuring that the country remains attractive for investment".

Finance Minister Malusi Gigaba also reportedly said South Africa's recent changes to state-owned enterprises was evidence of its attractiveness as an investment destination.