President Jacob Zuma is in China to attend the second Investing in Africa Forum, hosted by the Chine Development Bank and the Chinese government.
Chinese investments in Africa have increased dramatically over the past few decades, ranging from the energy sector to infrastructure, and even to the mining of precious metals and gems.
“This year’s discussions at the forum will focus on investment opportunities in the African continent in areas such as agriculture and agribusiness, infrastructure development, manufacturing, trade, tourism and renewable energy,” says a statement released by the Presidency.
The Forum follows discussions and agreements reached between KwaZulu-Natal and Guangdong Province in China, that will see relations between the provinces formalised in the areas of tourism and education, among others.
The Presidency says that the meeting that brought about that agreement saw $189-million in agreements.
“President Zuma will use his participation in the Investing in Africa Forum to promote South Africa as a stable democracy and an attractive investment destination,” it says.
South Africa desperately needs to reestablish its investment potential, after nearly a year of economic turmoil arguably instigated by Zuma himself.
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