Cape Town – Deputy President Paul Mashatile has called on Chinese-funded enterprises in South Africa to increase their investments in key sectors, particularly the automotive industry and infrastructure development, to boost job creation and economic growth.
Speaking at the launch of the corporate social responsibility report for Chinese-funded businesses on Wednesday, Mashatile highlighted the contributions of 200 such enterprises to South Africa’s economy and social development.
“Your participation and investment in our country is critical for creating jobs and promoting economic growth and development,” he said.
He added: “We should leverage our expertise to navigate towards a more sustainable path, guided by the principles of joint pursuit and a shared future. Our countries have complementary strengths and resources, making us ideal economic partners.”
LISTEN| Remarks by Deputy President Paul Mashatile during the launch of the Corporate Social Responsibilities Report of Chinese-Funded Enterprises in SA hosted by #SACETA#GovZAUpdates pic.twitter.com/xwrbY5jdZ4
— South African Government (@GovernmentZA) December 12, 2024
He emphasised the importance of stronger trade relations between South Africa and China, noting that China’s market offers significant opportunities for South African goods and services.
Mashatile also acknowledged the trade imbalance, with South Africa exporting primarily raw materials while importing manufactured goods from China, and urged efforts to export more value-added products.
He suggested that Chinese enterprises should explore emerging sectors like AI, digital economy, and green energy.
Mashatile also praised China’s support in environmental conservation and community development, underscoring the mutual benefits of South Africa-China economic collaboration.
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Compiled by Betha Madhomu
