The Diplomatic Society

 
  • Increase font size
  • Default font size
  • Decrease font size

South Africa and Thailand strengthen economic ties

2 February 2017

South Africa signed a Memorandum of Understanding (MoU) that is aimed at advancing the country’s economic agenda with Thailand.

South Africa’s investment promotion agency, Invest South Africa, signed the memorandum with the Board of Investment Thailand, in Bangkok, on Tuesday, said the Department of Trade and Industry (dti).

“One of InvestSA’s objectives is to identify potential foreign investors and attract them to invest in the country, in an effort to grow the economy and create employment opportunities,” said the agency’s acing head Yunus Hoosen.

Photo: InvestSA's Ambassador Sadick Jaffer and the Secretary General of Thailand Board of Investment, Ms Hirunya Suchinai exchanging gifts after signing the MoU on Investmwnt Cooperation.

“The MoU that was signed with Thailand is aimed at promoting and facilitating cooperation between the two countries on investments in automotive, agro-processing and the electronics sectors. It will also enhance our collaborative efforts to attract investments into our countries,” said Hoosen.

Invest SA is optimistic that the implementation of the MoU will see Thai investors setting up manufacturing plants in South Africa which will result in job creation.

Total trade between South Africa and Thailand in the first three quarters of 2016 reached R29.9 billion, which is a 24.3 % increase from R24 billion achieved in the same period of 2015.

Officials from the KwaZulu-Natal-based Richards Bay Industrial Development Zone (RBIDZ) was part of the delegation. They were on a mission to attract Thailand automotive component manufacturers to invest in the RBIDZ.

InvestSA is South Africa’s national investment promotion agency, providing a one-stop-shop services to investors.

This includes investment promotion, facilitation and aftercare, all of which are geared at fast-tracking projects and reducing government red-tape.

SAnews.gov.za

 


 
 
 
 
 
 
 
 
_________________________________________________

May 2017 Edition

_________________________________________________

Translater


 
 
 
 
 
 
 
 

Science, Technology and Environment Cooperation between South Africa and Argentina 6 April 2017 The Scientific and Technological Cooperation between South Africa and Argentina was further enhanced... <|> High Court on Dagga 6 April 2017 The Hemp, Dagga, Weed, Herb, Marijuana and a plant by any other name, Industrialisation report back presentation was full of positive excitement. Medicines,... <|> Transforming ballet in South Africa 10 April 2017 Transformation in ballet has a long way to go. In order to make the most of talent that is available in South Africa, talented dancers from all... <|> Commemorating 20 years of Signing the Red Fort Declaration and bidding farewell 10 April 2017 20 Years ago late President Nelson Mandela of South Africa and Mr HD Deve Gowda, former Prime Minister... <|> Easing travel regulations between South Africa and Kenya 3 May 2016 South Africa and Kenya have announced measures that will make travelling between the two countries easier. South African Home... <|> Transnet launches first ever train 4 April 2017 Transnet has officially launched it’s the first ever train which it designed, engineered and manufactured. The locomotive, which will serve the... <|> Deputy Minister Landers concludes successful working visit to Central America 7 April 2017 International Relations and Cooperation Deputy Minister Luwellyn Landers has concluded his Working Visit... <|> Sri Lanka and South Africa pursue enhanced cooperation 18 April 2017 The Sixth Session of the Senior Officials’ Meeting of the Partnership Forum between Sri Lanka and South Africa was held in... <|> UN Designates Malala Yousafzai as Messenger of Peace 11 April 2017 United Nations Secretary-General António Guterres designated Malala Yousafzai, global advocate for girls’ education and the... <|> South Africa and Qatar explore investment opportunities 12 April 2017 Pretoria - The President of the Black Business Council, Dr Danisa Baloyi, says South Africa should take advantage of the... <|>
© copyright 2011-2017| The Diplomatic Society| All Rights Reserved.