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S. Africa to use WEF to attract foreign investment: Zuma

Xinhua, January 15, 2016 Adjust font size:

The South African government will use the upcoming World Economic Forum (WEF) in Davos, Switzerland to attract foreign investment, President Jacob Zuma said on Friday.

The SA government is mobilising the business sector to help communicate a message of confidence in the country at the WEF, Zuma said at a meeting in Pretoria with top business executives and industry leaders.

"Because we believe it is important that when we must go to Davos we call ourselves Team South Africa," Zuma said.

The SA delegation will raise issues about its challenges and what measures will be taken to address those challenges, according to Zuma.

"When we are there we are putting across South Africa as a destination for investment," said Zuma.

Finance Minister Pravin Gordhan also said at the meeting that the message to be taken to Davos is that South Africa is a resilient country despite the current difficulties.

Gordhan cited advanced infrastructure and sound fiscal policies as proof of SA's resilience.

"South Africa is still an attractive destination for countries which want to establish manufacturing and expand existing plants,"he said.

Zuma is to lead the South African delegation of cabinet ministers and business leaders to the WEF scheduled for January 20-23.

This year's WEF brings together world leaders from business, government, international organizations, academia and civil society in Davos to discuss the global economy, under the theme: Mastering the Fourth Industrial Revolution. Endit