Despite facing severe economic issues, the 2020 World Economic Forum (WEF) in Davos will be a good opportunity for South Africa to attract investment, said experts.

It will give the South African delegation the space to explain the situation in the country and what tangible measures are being put in place or planned to address the issues, Annabel Bishop, senior economist at Investec, told Xinhua, “It will also allow SA to expand on investment opportunities and give deeper insight into the economy.”

The National Treasury said the delegation would be transparent about the country’s economic problems.

“Team South Africa will communicate at WEF platforms, the message that while South Africa faces challenges of weak economic growth and fiscal pressures, the country remains open for business as one of the best investment destinations in the world,” said Treasury spokesperson Ntsakisi Ramunasi in a statement.

Ramunasi said the delegation would use the forum to talk about the work being done to revive the economy.

“Team South Africa will also highlight the strides being made to implement structural reforms to ignite economic growth,” she added.

Professor Jannie Rossouw, head of School of Economic and Business Sciences at the University of the Witwatersrand, said the delegation must tell the forum that it was fixing its problems.

“The South African delegation must convince the international investment community that there is a plan to get out of its economic doldrums which we are in. Tell them there’s a clear and coherent plan to get South Africa out of this,” he told Xinhua.

South African Finance Minister Tito Mboweni is leading South Africa’s delegation to the forum which kicks off on Tuesday. Enditem


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