Wednesday, May 5, 2010

South Africa Seeks Investment - From China, Brazil, India & Russia

South Africa has targeted some of the world's fastest growing economies, such as China, to reach a minimum target of R115 billion ($15 billion) in foreign investment projects by 2013, Trade and Industry Minister Rob Davies said on Tuesday.

"Targeted potential sources of FDI (foreign direct investment) will include China, India, Russia, Brazil, Japan, the USA and Middle East," Davies said in his budget vote speech to parliament.

"We anticipate that the work programme will translate over the next three years into an investment pipeline of 115 billion rand (worth) of projects," he said.

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