South African minister urges businesses to invest in infrastructure

2 Mar 15
South Africa could see new economic growth if businesses start to invest in infrastructure development, a minister has said.

Mzwandile Masina, South Africa’s deputy trade and industry minister, said it was essential for businesses to invest in infrastructure in the country in order to enhance economic development, intra-trade and regional integration.

The minister was speaking at the 6th annual India Trade and Investment Initiative (ITI) in Kolkata late last week. The ITI forms part of South Africa’s Department of Trade and Industry’s export and investment promotion strategy, focusing on India as a high-growth export market and foreign direct investment source.

Masina said: ‘The opportunity to collaborate with Indian companies will make it possible for South Africa to realise the deliverables of the programme, in particular the North-South corridor, with emphasis on road and rail infrastructure.’

He said South Africa and India shared a common vision to address the triple challenge of inequality, poverty and unemployment.

‘I am of the firm view that it is through initiatives of this nature that we will be able to address the challenges of unemployment, advance the fight against poverty and accelerate economic transformation within our respective countries.’

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