South Africa and France are strengthening economic cooperation, with a focus on infrastructure, industrialisation and inclusive economic growth.
Planning, Monitoring and Evaluation Minister Maropene Ramokgopa said France is now South Africa’s number-one foreign direct investor. More than 480 French companies operate in the country, employing over 65,000 people.
At this year’s South African Investment Conference, 30 French companies announced investment commitments worth R20.7-billion.
Ramokgopa said the partnership is focused on creating jobs, reducing poverty and strengthening the capacity of the state to support economic development.
She said government is also working to create an environment where businesses can operate and expand.
“We ensure that the enabling environment for companies to actually be able to operate. Our regulations are not overbearing in terms of compliance. We open up for private sector participation,” said Ramokgopa.
She said government evaluates how it can intervene to unlock challenges facing businesses and support investment.
The minister said stronger cooperation with France can help drive infrastructure development, industrialisation and broader economic opportunities for South Africans.
VOC News
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