President Cyril Ramaphosa has reiterated South Africa’s position as one of the most attractive destinations for global investors, emphasizing his government’s ongoing efforts to streamline regulations and advance structural reforms aimed at creating a more business-friendly environment.
Speaking during a fireside chat at the ASEAN Business and Investment Summit in Kuala Lumpur, Malaysia, on Saturday, Ramaphosa used the platform to promote South Africa’s economic potential. The summit took place alongside the ASEAN and East Asia Summits, bringing together leaders, policymakers, and investors from across the region.
Ramaphosa noted that several nations and multinational companies have expressed growing interest in investing in South Africa, describing the country as “the gateway to Africa.” He highlighted South Africa’s strengths, including being the continent’s most industrialised economy, its largest financial hub, and home to one of the strongest and most sophisticated banking systems in the developing world.
“We have the fundamental building blocks to make South Africa even more successful than it already is,” Ramaphosa said, underscoring the country’s solid economic foundation.
The president also outlined the practical steps his administration is taking to attract and retain investors. He mentioned the government’s ongoing efforts to reduce bureaucratic red tape and simplify visa processes, making it easier for skilled professionals and investors to enter the country. In addition, he emphasized investments in education and skills development to ensure that the local workforce remains competitive and capable of meeting modern industry demands.
“We’re continuously reforming our State-Owned Enterprises (SOEs) and improving governance to build confidence and strengthen economic performance,” he added.
Ramaphosa further identified several key sectors for investment growth, including industrial manufacturing, renewable energy, advanced technology, and digital innovation. He stressed that South Africa’s current drive toward deeper industrialisation is central to its economic strategy.
“Our goal is to further industrialise and develop strong domestic companies that can attract and sustain investment. At the same time, we’re eager to learn from other nations, particularly in areas such as technological advancement, renewable energy, artificial intelligence, and electric mobility,” he said.
The president concluded by reaffirming South Africa’s commitment to maintaining a stable, rules-based environment for business operations. With a robust legal system and transparent regulatory framework, Ramaphosa said, South Africa offers both reliability and opportunity for international investors seeking to enter or expand within the African market.
“Any country that invests in South Africa will find a solid partner and a fertile ground for success,” he affirmed.
