South Africa's investment drive in on track. The ANC welcomes all the efforts by our
government to attract new investment. We are pleased to hear that more than R363 billion - translating to 412 000 direct jobs - has been pledged at the second SA Investment Conference on Wednesday, 6 November 2019, at Sandton Convention Centre in Johannesburg, by about a dozen companies and business partnership forums.
This is a 17% higher than the R300 billion pledged at the conference debut in 2018. The gathering is part of President Ramaphosa's investment drive to raise R1,2 trillion in 5 years to improve the country's low economic growth and deal with the high unemployment rate.
The new commitments follow the assurances given by the President that the proceeds of the pledges made at the inaugural investment conference last year were already being realised. Of the R300 billion in investment pledged in 2018, about R238 billion has been secured during the past 12 months.
Since 2018, eight projects have been completed and about
17 are in the implementation stage. The remaining projects are still in the planning phase. The ANC would
like those who gave us their mandate and trust to be assured that South Africa will rise and prosper in the years ahead and overcome all the current challenges and difficulties. Thank you. [Applause.]