President Jacob Zuma has arrived in Davos, Switzerland where he is
leading the South African delegation to the World Economic Forum 2016.

The President is accompanied by seven Ministers and a large business
delegation of chairmen and CEOs of companies.The theme for WEF 2016 is
Mastering the Fourth Industrial Revolution.

The theme of Team South Africa (TSA) is that South Africa is Open for
Business. An important TSA planning session was held in Pretoria on 15
January 2016 and the team of Ministers, Chairmen and CEOs of major
companies is ready to present the many positive attributes of the
country in Davos.

WEF Davos takes place in a challenging global environment for both
governments and business.The deterioration of the global economic
outlook in recent months has resulted in slower global growth that has
led to the weaker performance in several important developing
countries, including China.

Moreover, the weakness in commodity prices is a concern for major
commodity exporters such as South Africa. The fall in commodity prices
is unlikely to reverse and will have a sustained impact on emerging
market economies.

President Zuma says South Africa will be able to present a strong case
for South Africa in Davos despite the difficult global context.

“South Africa has proved to be a resilient economy which is the
outcome of the solid economic fundamentals that have been laid since
the advent of democracy. Building on this success, the National
Development Plan provides a basis for collective action by all of us
in the country to stabilise the economy, build confidence, raise the
level of investment and return South Africa to a path of inclusive
economic growth,’’ he said.

The President added; “We will also be sending a strong message
thatSouth Africa is committed to strong fiscal discipline.Government
has stuck to its spending limits for the past three years and is on
track to stay within the expenditure ceiling in 2015/16’’.

Team South Africa goes to Davos against the background of investor
confidence that has been demonstrated by many international companies
that have increased their investments and expanded their South African
operations.

Government welcomes the following main investments among others:

• Mercedes has invested R 2.4 billion, General Motors R 1 billion,
Ford R3.6 billion, the Metair Group R400m,  Goodyear R670 million.

• BMW has recently increased its investment by R6 billion and VW by
R4.5 billion.

• Beijing Automobile International Corporation (BAIC) announced an
investment of R11 billion in a vehicle manufacturing plant.

• Hisense has expanded its South African operations and has recently
started exporting into the SADC region from its South African base.
• Marriot Hotels has also announced it will increase its South African
footprint.

• Starbucks, Dunkin Donuts, Krispy Kreme and Facebook have chosen to
set up offices in South Africa.

The President is accompanied by the following Ministers:

• The Minister of Finance, Mr Pravin Gordhan, the lead Minister
• The Minister in the Presidency for Planning, Monitoring and
Evaluation, Mr Jeff Radebe
• The Minister of Trade and Industry, Dr Rob Davies
• The Minister of Water and Sanitation, Ms Nomvula Mokonyane
• The Minister of Economic Development, Mr Ebrahim Patel
• The Minister of Energy, Ms Tina Joemat-Pettersson
• The Minister of Health, Dr Aaron Motsoaledi

The WEF Davos 2016 meeting will also feature South African culture.
The President is accompanied by popular band Mafikizolo, who will
perform at the annual WEF soiree, the gala dinner that marks the end
of the session.

Mafikizolo wowed WEF delegates when they performed at the
Soiree/Mokete in Cape Town in June last year and the founder of WEF
Prof Klaus Schwab made a special request that they perform in Davos as
well.

 

Issued by The Presidency