Pretoria - Singapore and South Africa must work towards strengthening bilateral relations and improving trade, says Deputy President Cyril Ramaphosa.
In his address at the Lee Kuan Yew School of Public Policy in Singapore, the Deputy President, who is on a working visit to the country which began on Wednesday, called on Singapore to take advantage of opportunities available in South Africa.
“We invite this industrious nation to expand its role in South Africa to help grow our economy and skill our people. Singapore is well positioned to take advantage of rewarding investment opportunities offered by our country as we re-ignite economic growth to defeat poverty, unemployment, inequality and underdevelopment.”
South Africa is a nation hard at work building an inclusive society from a divided and unequal past and to overcome this government is implementing the National Development Plan.
“It is a social compact that unites all South Africans in reducing poverty and inequality through investment, employment creation and skills development.”
South Africa, given its long history of racial division and social exclusion, sees a developmental state as a critical instrument to achieve socio-economic transformation.
“We recognise that more effective state provision of education, health, municipal services, public transport and social security is needed to improve the living standards of the poor. We are constantly improving the ability of the state to deliver quality services better,” said the Deputy President.
South Africa can learn from the efficient management of Singapore's state owned companies.
“We hope to understand how you have developed these companies to be at the forefront of economic development and inclusive growth,” he said.
When coming to the African continent, South Africa is an integral part of the continent, which is seeing significant economic growth and social development.
The continent has several strategic advantages, including abundant mineral resources, significant agricultural potential, expanding cities, a young population and growing middle class.
Africa needs to diversify
Deputy President Ramaphosa said while the continent is widely acknowledged as the next growth frontier, the continent needs to address the legacy of colonialism and underdevelopment if it is to achieve its full potential.
“The continent needs to diversify its economies, improve its transport networks and energy supply, educate its youth and increase intra-African trade.”
“Through the African Union, the continent has chosen an industrialisation path driven by regional integration, infrastructure development, mineral beneficiation and developing the agricultural value chain.”
Having a strategic position in the continent, South Africa offers an advantage for international companies.
“We are a leading investor in the continent. Together with Singapore we can explore commercial opportunities which will benefit our countries and the people of Africa,” said the Deputy President.
South Africa is an attractive place to do business as it boasts a sophisticated financial and business services sector and has extensive mineral resources and a modern, productive agricultural sector, among others.
The Deputy President’s second leg visit to Singapore concludes today. The Deputy President’s two nation visit kicked off in Vietnam on Monday. – SAnews.gov.za
