Government wants to attract foreign direct investment totaling around R15 billion for labour intensive projects, over the next three years.
The announcement came from Trade and Industry Minister Rob Davies who tabled his budget vote in Parliament.
The minister said the new industrial policy action plan was now well in its implementation phase.
Davies said it may appear ambitious but their calculations showed achieving foreign direct investment of R100 billion was possible.
He said they were targeting mainly new economies like China, India and the Middle East to pump money into local projects which would create work and new exporting opportunities.
The minister said the investments must support government’s industrial policy action plan.
Davies added many of his objectives over the next year form part of his service delivery agreement recently signed with the president last week.
Source : eyewitnessnews.co.za