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Walk the talk on growing SA's economy, Cosatu tells govt & business

The conference is the second since its inception last year, where government succeeded to raise R300 billion in investment commitments.

FILE: President Cyril Ramaphosa at the 2018 South Africa Investment Conference in Sandton International Convention Centre. Picture: Abigail Javier/EWN

JOHANNESBURG – Cosatu raised concerns on Tuesday as the country’s investment conference got under way.

The conference is the second since its inception last year, where government succeeded to raise R300 billion in investment commitments.

The trade union federation said it was hopeful after last year’s conference but said government and business had become lethargic in implementing previous resolutions.

This year the investment goal has been set at R1.2 trillion.

Cosatu commended efforts by government to find solutions to unemployment in the country. However, the trade union said government, together with the business community, should implement plans.

Although investment in the country has not led to major gains, the Reserve Bank reported recently that 2019 had seen the highest level of investment inflows.

Meanwhile, President Cyril Ramaphosa has hailed as phenomenal the launch of the automotive special economic zone in Tshwane, which is envisaged to attract over R3 billion in long-term investments.

The investment conference will also discuss the impact of investment on the South African Jobs Fund.