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Patel says all systems go for second investment conference

It’s set to take place from 5-7 November at the Sandton Convention Centre and more than 1,000 delegates have already confirmed they would be there.

FILE: Trade and Industry Minister Ebrahim Patel said investors would have an opportunity to engage with Cabinet ministers, about half of whom were expected to attend. Picture: GCIS.

CAPE TOWN - Trade and Industry Minister Ebrahim Patel on Tuesday said it was all systems go for the country’s second investment conference.

It’s set to take place from 5-7 November at the Sandton Convention Centre and more than 1,000 delegates have already confirmed they would be there.

The gathering is part of President Cyril Ramaphosa’s big drive that he announced last year to attract R1.2 trillion investment in South Africa within five years.

Patel said the country was already seeing the fruits of last year’s investment conference, with major investments in auto production, food processing and a new mobile phone manufacturing plant in KwaZulu-Natal.

“Last year, South Africa registered the best foreign direct investment flow in five years, with new FDI flows of some R71 billion. That was in a year when global FDI contracted.”

Patel said investors would have an opportunity to engage with Cabinet ministers, about half of whom were expected to attend.

“It’s an opportunity for SA Inc. to engage with the global investor community. We expect about a quarter of the conference attendees to be foreign investors or their representatives,” he added.

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