By Lungile Ntimba
President Cyril Ramaphosa has praised the recent significant increase in Chinese investment as proof of South Africa’s potential and economic development.
“Investments by Chinese companies in South Africa have increased dramatically over the last six weeks, and this is a testament to the resilient of South African economy,” Ramaphosa said.
While addressing the South Africa-China Business Forum in China on Wednesday, he said there were still several areas in which collaboration could be strengthened.
South Africa had investment opportunities in the electric vehicle sector, renewable energy, green hydrogen and energy storage.
The president also mentioned opportunities in infrastructure, manufacturing, mining, beneficiation of critical minerals and the digital economy.
“South Africa and China can collaborate to promote innovation, technology transfer and skills development,” Ramaphosa said.
He said South Africa was modernising infrastructure by investing in the expansion of ports, rail and road networks, which would also increase investments.
“We are on a path to revolutionise our energy sector in pursuit of low-carbon, climate resilient development” he said.
The president said investment was needed in the energy sector with a focus on renewables and green hydrogen, to create sustainable and environmentally friendly
energy solutions that would benefit both countries.
“We can create value chains that are mutually beneficial, leading to job creation and economic growth,” Ramaphosa said.
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