'Land & intellectual property in SA are concerns for US'

The American Chamber Of Commerce says the values US firms bring to SA should be safe guarded.

Picture: freeimages.com

JOHANNESBURG - The American Chamber Of Commerce (Amcham) says foreign land ownership and intellectual property rights remain two of their biggest concerns around investment in South Africa, adding the values US companies bring to the country should be safe guarded.

Amcham on Monday hosted the DA's new leader Mmusi Maimane to hear his views.

Maimane was elected leader of the official opposition to the current ruling party earlier this month.

The chamber is apolitical and Maimane says he believes restrictions on foreign ownership of land for commercial use should not be overdone.

Amcham executive director Carol O'Brien said, "We're in favour of a market-based economy and we believe in a lot of the values that American business brings to South Africa in terms of intellectual property policies are very important."

She said the chamber was also in favour of respecting the sanctity of land ownership

President Jacob Zuma announced a new land bill restricting foreign ownership of land.

If the new land holdings bill is passed in its current form, foreign nationals will be classed as non-citizens and unable to own land in South Africa.