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Selling SA overseas: Gordhan leads the way

Source: Fin24, 26/03/2017


Cape Town - The Federation of Unions of South Africa (Fedusa) said on
Sunday it will join Finance Minister Pravin Gordhan is delegation on
an overseas trip to sell the country as an investment
destination.


Fedusa is the only trade union federation that will be participating
in this international roadshow.


Treasury announced on Saturday that Gordhan his deputy Mcebisi Jonas
Treasury director general Lungisa Fuzile and business and labor
representatives will meet credit rating agencies and investors in the
United Kingdom and the United States.


The delegation will spend a total of five days in London, Boston and
New York.


This international roadshow is a follow-up of similar ones held last
year, where Team South Africa made up of the social partners of
government, labor and business were able to convince credit rating
agencies and investors that they were working together to tackle
structural challenges facing the country.


“Engaging credit rating agencies and investors is important for the
country to ensure rapid inclusive economic growth and the creation of
decent jobs for our people. Investments are critical for any
developing country said Fedusa general secretary Dennis George.


It is always important for social partners to work together to give
hope to our people, especially the young who find themselves without
jobs, and to deliver a single, positive narrative about the country
when dealing with investors and credit rating agencies.


George said inclusive economic growth and job creation is not only
about international investment domestic investment is also
critical.


Similarly economic growth of the nation is assured when citizens
invest in the education of their children and in their own education
when a newly married couple invests in buying a new home when an
entrepreneur starts a new small business and likewise when the
developmental agenda calls for new resources and innovations he
emphasized.


Threasury said the non-deal international investor roadshow follows
extensive engagements by senior officials with domestic investors
after the tabling of the 2017 National Budget in February.


Treasury has a consistent and long standing strategy of engaging
investors on a regular basis it said in a statement on Saturday.


The purpose of this is to provide an update on the most recent
developments engage constructively with investors and share government
is thinking behind its latest policy proposals Treaury explained.


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