Statement by Dorothy Ramodibe on International investment council

21 October 2008

Over the weekend the International Investment Council met in Mossel Bay. The meeting encouraged South Africans to communicate vigorously its economic achievements to the global investor community, especially its economic potential and attractiveness as an investment destination. The IIC has expressed its continued confidence in our country. It noted that South Africa's regulatory environment and policy choices have, to a large extent, shielded the economy from the turmoil that has swept across financial markets around the world.

Before 1994, economic growth had ground to a halt. Since then, our economy has grown on average by 2,8% a year. It has become more competitive, with increasing volume, diversity and destinations of exports, and it has created more and more jobs. The African National Congress recognizes that poverty is still a reality for millions as many do not have appropriate skills, while others cannot access credit to start or improve their small and medium-sized businesses.

The African National Congress remains committed to the eradication of poverty, economic development, comprehensive social security, land reform and improved household and community assets.

I thank you!

Dorothy Ramodibe, MP
Tel: 021 403 2726