South Africa will aim to put its best foot forward in a bid to convince the BRICS member states that the country is open for business, thus hoping to attract investment into the infrastructure and manufacturing sectors.
This comes as the country hosts the 15th BRICS Summit in Joburg next week where government leaders, State-owned companies and private sector businesses from Brazil, Russia, India, China, and South Africa (BRICS) will discuss partnerships for mutually accelerated growth.
In preparation, the BRICS Business Council has held a number of stakeholder engagements with Working Groups from the South African Chapter.
Co-chair of the Infrastructure Working Group Zodwa Mbele on Friday said they wanted to share knowledge with BRICS member countries and industry experts to see how South Africa can benefit.
The BRICS Infrastructure Working Group is of the view that blended finance, a stable regulatory framework, and a generous rebates system is critical to bridge the infrastructure gap and accelerate development in South Africa, which could also be used to leverage the African Continental Free Trade Area (AfCFTA).
Source: ILO
