Sacci raises Sona land policy concerns
The chamber says plans to stop foreign land ownership will impact the economy for years to come.
JOHANNESBURG - The restriction of foreign land ownership will jeopardise foreign investment, the South African Chamber of Commerce and Industry (Sacci) said on Friday.
It was reacting to President Jacob Zuma's State of the Nation Address (Sona) which took place in Parliament on Thursday.
The chamber says government's nine-point plan to ignite growth and create job opportunities will encourage investment but Zuma's plan to stop foreign land ownership won't.
Sacci CEO Peggy Drodskie says this issue could negatively impact the economy for years to come.
"Generally, what he said was positive but there were some very negative connotations that came through. That [foreign land ownership] is definitively one of them, the other one is the implementation of what he called the 50/50 policy."
Zuma's address went ahead, despite interruptions and the expulsion of Economic Freedom Fighters (EFF) Members of Parliament (MPs). Watch: EFF MPs dragged out of Parliament
Watch: EFF MPs dragged out of Parliament
It was followed by a walkout by the Democratic Alliance (DA). Watch: DA walks out of National Assembly
Watch: DA walks out of National Assembly
There were also claims by journalists that cellphone signals were scrambled in the chamber.