{"id":93602,"date":"2024-11-28T10:36:48","date_gmt":"2024-11-28T08:36:48","guid":{"rendered":"https:\/\/radioislam.org.za\/a\/?p=93602"},"modified":"2024-11-28T10:36:48","modified_gmt":"2024-11-28T08:36:48","slug":"sas-potential-to-become-an-investment-destination-depends-on-reforming-policy-irr","status":"publish","type":"post","link":"https:\/\/radioislam.org.za\/a\/sas-potential-to-become-an-investment-destination-depends-on-reforming-policy-irr\/","title":{"rendered":"SA\u2019s potential to become an investment destination depends on reforming policy: IRR"},"content":{"rendered":"

Sameera Casmod | sameerac@radioislam.co.za<\/a>
\n28 November 2024 | 10:37 a.m. CAT
\n2-minute read<\/p>\n

\"\"<\/p>\n

A report by the South African Institute of Race Relations (IRR) <\/a>shows the potential for South Africa to become a magnet for foreign investment, provided a suitable policy and governance framework is put in place.<\/p>\n

Project manager at IRR, Terence Corrigan, said that South Africa\u2019s investment level is low compared to that of big global investment winners like Indonesia, Vietnam and China.<\/p>\n

\u201cThe big winners over the last 30 years have been middle-income countries. Think Indonesia, Vietnam and China. You have an investment level there of 30% plus, sometimes reaching close to 40%. In other words, 3 in every 10 rand spent in that economy is going to be producing things that will be [generating] wealth. In South Africa, we are sitting at 15%, so about half of that,\u201d Corrigan explained.<\/p>\n

A major contributing factor is what the IRR calls a \u201csystems failure\u201d, which refers to poor governance that is keeping investment in the country at bay.<\/p>\n

Maintenance of basic infrastructure, such as roads, power and basic security, is an integral part of keeping an economy afloat, Corrigan noted.<\/p>\n

He also attributed the stagnation to inadequate skills development and inconsistent regulations.<\/p>\n

Corrigan proposed key strategies to boost investor confidence. First, the government must prioritise essential governance and basic service delivery.<\/p>\n

Second, foundational infrastructure\u2014roads, rail, and electricity\u2014requires urgent upgrades.<\/p>\n

He also emphasised reforming regulatory frameworks, proposing the deregulation of certain industries, such as the township economy, which holds untapped potential.<\/p>\n

Rebuilding trust between governments and businesses is critical for long-term growth. Corrigan pointed to success stories like Vietnam and Indonesia, which reformed governance and policies to attract significant investment within a decade.<\/p>\n

Despite the challenges, Corrigan remained cautiously optimistic. He underscored the importance of collaboration between the public and private sectors to unlock South Africa\u2019s immense potential.<\/p>\n

Listen <\/strong>to the full interview<\/a> on Sabaahul Muslim with Moulana Habib Bobat.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sameera Casmod | sameerac@radioislam.co.za 28 November 2024 | 10:37 a.m. CAT 2-minute read A report by the South African Institute of Race Relations (IRR) shows the potential for South Africa to become a magnet for foreign investment, provided a suitable policy and governance framework is put in place. Project manager at IRR, Terence Corrigan, said […]<\/p>\n","protected":false},"author":30,"featured_media":93603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[28,4995],"tags":[],"class_list":["post-93602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-south-africa"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/radioislam.org.za\/a\/wp-content\/uploads\/2024\/11\/SA-Economy.webp?fit=2000%2C1000&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pc0QIf-olI","jetpack_likes_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-04-30 10:01:38","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/93602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/comments?post=93602"}],"version-history":[{"count":0,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/93602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media\/93603"}],"wp:attachment":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media?parent=93602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/categories?post=93602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/tags?post=93602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}