The Canadian High Commission has clarified its stance on SA as an investment partner, following comments made by Canada`s trade commissioner that the South African government`s involvement in business greatly stifles entrepreneurs.
At a Futurex panel discussion last week, Israel Noko also claimed that SA is not seen as a preferred investment partner by the rest of the world, and added that government is not creating an environment in which ICT can thrive.
As a result, he said, government`s involvement in business is detrimental to the ICT sector`s role in helping the country attain 6% economic growth by 2010.
Responding to Noko`s comments, senior trade commissioner Neil Clegg says: "SA is seen as highly attractive for Canadians, largely due to its rapidly growing economy. SA is one of Canada`s most important investment partners."
Clegg explains that 40% of all of Canada`s dealings within Africa is with SA. Additionally, Canada is one of the biggest foreign economic investors in SA`s mining sector, with current investments totaling 17, he says.
He also alludes to Canada`s involvement in two multibillion-rand local projects, namely the Gautrain and Alcan, an aluminum processing plant project in Port Elizabeth.
"Canada`s investor confidence in SA has never been higher," Clegg concludes.
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SA not a preferred investment partner
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