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IMC to improve support to investors

IMC to improve support to investors

President Jacob Zuma has established an Inter-Ministerial Committee to improve support and assistance to investors wishing to invest in South Africa.

The Presidency said potential investors complain about the time they have to spend visiting different government departments and institutions to fulfil regulatory requirements and the need to simplify the regulatory framework, among others.

President Zuma in 2015 announced an InvestSA approach and the One Stop Shop (OSS) concept and work has begun towards the establishment of the critical service.

“Trade and Industry Minister, Dr Rob Davies, has created a division at the Department of Trade and Industry (DTI) to focus on investment promotion, facilitation and aftercare. He is also adding capacity to the facilitation and aftercare unit to create a clearing house and to roll out One Stop Shops in all provinces. Investors are encouraged to contact the DTI for the pilot service,” said the Presidency.

The Presidency said the fully-fledged InvestSA service and One Stop Shop will be launched later this year. The One Stop Shop concept requires support from all government departments.

“The President has thus decided to expand the current Inter-Ministerial Committee (IMC) on Bilateral Investment Treaties to include a focus on South Africa’s investment climate across all areas of government in a coordinated and cohesive manner,” said the Presidency.

The reconfigured IMC on Investment will be chaired by President Zuma, assisted by Minister Davies. The IMC also includes Ministers for Agriculture, Forestry and Fisheries; Cooperative Governance and Traditional Affairs; Economic Development; Energy; Environmental Affairs; Finance; Health; Home Affairs; Labour; Mineral Resources; Public Enterprises; Rural Development and Land Reform; Science and Technology; Water and Sanitation; and Small Business Development.

The Presidency said the IMC will focus on:

- Overall coordination, alignment and policy coherence on economic policy, regulatory, framework, thereby providing clarity and certainty to investment.

- Improvement in South Africa’s investment climate in particular the ease of doing business and competitiveness of South Africa.

- Coordination and roll out of the One Stop Service across all levels in government. The One Stop Service will fast track, unblock and reduce red tape in government. All government departments in the three spheres of Government need to commit to a continuous improvement and service delivery.

- Overall coordination and alignment in terms of South Africa’s marketing, communication, and media in terms of our messaging of South Africa as an investment destination both locally and abroad.

- Scaling up private sector investment, higher impact Industrial Policy Action Plan, support for the black industrialist program, SME development and the Township Economy.

- Identification, packaging and implementing investment projects in terms of national interest and economic development.

- Promoting regional integration and industrialisation of the African Continent.

- Promoting cooperation and partnerships between government and the private sector.

- Coordinate inputs into the task teams of the Presidential Big Business Working Group and the new Broad Based Black Economic Empowerment commission.

“The IMC will be open to inputs from the business community and other sectors as it works to create the new investment agency. It will also interface with the President’s Coordinating Council, which brings together national government, Premiers and local government,” said the Presidency.

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