/ 20 April 2000

SA DRAWING FOREIGN MONEY

TRADE and Industry Minister Alec Erwin said that SA has attracted foreign direct investment of R91,9-billion. Speaking in Parliament, Erwin said SA ranks just after China and Brazil among the most popular emerging investment destinations. He said SA’s move up four notches in the world competitiveness rankings has not gone unnoticed by foreign investors. However, he said the growth of foreign investment is still below its targeat of 2% to 2,5% of GDP.