/ 16 September 2010

Motlanthe woos UK business investors

Motlanthe Woos Uk Business Investors

Deputy President Kgalema Motlanthe on Wednesday tried to attract United Kingdom businesses to invest in South Africa, particularly in the troubled mining sector.

“We value our relationships with international investors, especially in the critical sector of mining, which continues to be the backbone of the South African economy,” he told business leaders in London during his two-day visit.

“Our opportunities for mutual partnerships are almost limitless, considering [the] abundant resources we have beneath and above our soil. Let us make the best of it together,” he was quoted as saying in a statement issued by the Presidency.

This came amid fierce debate about the nationalisation of mines.

On Monday, Congress of South African Trade Unions general secretary Zwelinzima Vavi told a gathering that South Africa was in crisis, and that a new growth path was needed to rescue the country from a “dysfunctional” economy.

He suggested that government tax the “super rich” and play a more “aggressive role” in the economy.

Vavi was speaking at the launch of the trade union federation’s New Growth Path document.

The ANC Youth League has repeatedly called for the nationalisation of mines, and the topic is due to be discussed at the ANC’s national general council next week.

Motlanthe, meanwhile, said the South African government was committed to an efficient and transparent environment which had “good prospect for mining investment”.

He noted that economic growth was constrained by delayed infrastructure investments but said clearing out backlogs would raise productivity and competitiveness.

Motlanthe briefly spoke about the hosting of the Fifa World Cup and said it created a positive shift in global perception about the country. — Sapa