Chinese investors urged to comply with BEE
Trade and Industry Deputy Minister Mzwandile Masina has invited Chinese business to invest in South Africa, while embracing the country’s Broad-Based Black Economic Empowerment (B-BBEE) policy if they plan to seize the available economic opportunities.
“I urge you to take up opportunities in South Africa that are presented by the R800-billion infrastructure roll out and Special Economic Zones (SEZ) programme, but remember BEE is the name of the game,” said the Deputy Minister.
At the South African Expos in China, Deputy Minister Masina said government’s intention was to make conditions favourable to attract foreign direct investment into South Africa. He advised Chinese businesspeople to approach government for guidance on complying with BBBEE regarding their choice of partners.
“We want to make South Africa your home away from home but you need to comply with our regulations,” said the Deputy Minister.
The Deputy Minister arrived in China earlier this week where he is leading a delegation of 51 companies on the fourth leg of the South African Expos in China.
The expos focus on South Africa’s top 10 value added products and investment projects, and seek to promote engagements, enhance exports and to increase market penetration into China.