CHINESE INVESTORS URGED NOT TO TRUST IRRESPONSIBLE MEDIA REPORTS

CHINESE INVESTORS URGED NOT TO TRUST IRRESPONSIBLE MEDIA REPORTS

South Africa like any other country has its challenges, but it judged based on irresponsible negative media reports. A Chinese investor, Mr Chen Yigiao, Chairman of Association of Chinese Entrepreneurs and Businessmen of South Africa, said this. Yigiao was speaking at an investment seminar during 3rd leg of the South African Expos in China currently underway in Chengdu, China.

Yigiao, who described South Africa as a good and safe investment destination said that media has a tendency of exaggerating in particular when they report about crime. But like any other country South Africa has crime and the government has structures in place to curb it and investors should make objective analysis about the business environment and security.

The Deputy Director-General of Trade and Investment at the Department of Trade and Industry (the dti), Mr Yunus Hoosen, who is leading the South African delegation urged investors to join the 45 Chinese companies that have already invested in South Africa and have created 12 400 jobs due to foreign direct investment from Chinese companies for the period of 2003-2014.

Hoosen reiterated the fact that South Africa has a lot to offer as a foreign direct investment destination for foreign companies, in the automotive components, capital equipment, aerospace, chemicals, agro-processing, Information communication and technology, energy and renewable energy sectors amongst others.

The Vice President of Sichuan China Council for the Promotion of Investment and Trade (CCPIT), Mr Su Hongyi, who also attended the investment seminar said win-win trade and investment cooperation is required to take the economic ties between South Africa and China to the next level.  

Hongyi committed to bringing Chinese enterprises to South Africa in 2015 to meet and visit South African enterprises with an assignment to increase trade and investment.

South African exporters are also exhibiting their products and services at the Western China International Fair from today to Saturday in Chengdu and will also visit their counterparts in the Information Communication and Technology, Manufacturing and the Energy sectors before proceeding to the next leg of the expos that will take place in Shanghai.