Daily Archives: May 19, 2018

Hisense annonce la mise sur le marché mondial des nouveaux téléviseurs laser de 80 pouces

Les téléviseurs de nouvelle génération devraient connaître une croissance rapide

PÉKIN, 19 mai 2018 /PRNewswire/ — Hisense, sponsor officiel de la Coupe du MondeTM de la FIFA 2018, a lancé son nouveau téléviseur laser L5 de 80 pouces à Pékin, le 17 mai. Offrant des prix très abordables, le nouveau produit est à la portée des familles à revenus modestes. À l’approche de la Coupe du Monde, la révolution du home cinéma dans les salons chinois a fait l’objet d’un coup d’envoi officiel.

Hisense announces global availability of 80-inch 4K laser TV

La technologie peut changer la vie. Jusqu’à présent, la popularité des téléviseurs laser était entravée par deux inconvénients, à savoir le manque de luminosité de l’image et le prix exorbitant. Lancé très récemment, le téléviseur laser L5 a résolu ces deux problèmes épineux. Le modèle présente une luminosité de 400 nits, soit une grande amélioration par rapport à tous les modèles laser existants. Il comporte aussi un écran dur de dernière génération, anti-lumière, de fabrication danoise, qui permet un gain élevé de polarisation dynamique nucléaire (DNP) et par conséquent un affichage clair de l’image, quelle que soit la luminosité de la lumière environnante. Au cœur par excellence d’un home cinéma, le super grand écran peut être vu confortablement sans qu’il soit nécessaire de tirer les rideaux ou de fermer les volets. Puisque le téléviseur est alimenté par une source de lumière réfléchissante qui est plaisante, plutôt qu’éblouissante, pour les yeux, en dépit de la hauteur de 80 pouces, l’écran peut être vu confortablement, même lorsque l’on est assis à seulement 3 mètres (environ 10 pieds). Ceci réduit considérablement l’espace résidentiel qui devrait être réservé comme zone de visionnage pour le home cinema. Le deuxième obstacle qui rendait difficile de posséder un téléviseur laser a été supprimé : le prix de 19 999 yuans (environ 3 140 USD) permet au modèle laser de devenir un « remplaçant de prédilection » et est le signe avant-coureur de la participation sans concession de Hisense au marché de la télévision grand écran.

Alors que la Coupe du monde de Russie s’apprête à donner son coup d’envoi, la demande pour des téléviseurs intelligents à grand écran et haute définition est sur le point d’exploser. Le tout nouveau système VIDAA AI qui accompagne le téléviseur laser L5 de Hisense est équipé de fonctions comme le mode sport automatique, la reconnaissance des stars et personnalités et le partage de capture d’écran des moments merveilleux. Tout ceci transforme le poste en votre meilleur compagnon de jeu.

Le lancement du téléviseur laser L5 de Hisense devrait marquer le début d’une tendance de remplacement presque systématique des téléviseurs dans les foyers chinois. Hisense s’attend à ce que la télévision laser chamboule complètement le marché du home cinema en 2018.

Photo – https://mma.prnewswire.com/media/693001/Hisense.jpg

Taxation Only Way to Ensure Future Economic, Social Development, Speaker Tells Special Meeting of Economic and Social Council

The only way to ensure sustainable economic development was through taxation, Babatunde Fowler, Executive Chairman of the Federal Inland Revenue Services of Nigeria, told the Economic and Social Council today as it held its special meeting on international cooperation in tax matters.

Mr. Fowler, in his keynote address, outlined various taxation challenges facing his country and the overall continent. Africa was said to have 30 per cent of the world’s natural resources, and yet remained the poorest continent. In the 1970s, Nigeria discovered that while it had generated a significant amount of money selling oil, it had little to do with controlling the price. Having exported its resources in crude form, Nigeria later learned that they were resold for much more. Gold and other metals and minerals used to create jewellery only accounted for 20 per cent of the price of the final product. He expressed concern that most developing countries were consuming economies rather than manufacturing ones.

He noted that other tax challenges included large informal sectors, poor tax culture, lack of tax knowledge and poor legislation. Another significant challenge to Africa was the issue of illicit financial flows involving multinational corporations, which were involved in profit shifting from the African continent to the developed world. That called for global attention and a global solution. Donor aid will not be there forever, assistance will not be there forever, he added, reiterating that the only way for future economic and social development was through taxation.

To keep up with digital trends, Nigeria had adopted the strategy of digitalized taxation to assist in tracking and taxing transactions conducted online and in real time, he said. In Nigeria, the introduction of an end to end tax administration platform as well as various compliance and payment platforms contributed to the registration of more than 800,000 new corporate taxpayers in the last year. That had increased the tax database over 50 per cent and corresponding tax revenue growth in the non oil sector between 2015 and 2017 to an average of 64.3 per cent from 42.8 per cent.

Due to the absence of a universally agreed taxing approach, countries were adopting unilateral measures, he continued, noting the goals of the Addis Ababa Action Agenda which included mobilizing domestic public finances and facilitating development cooperation to support the implementation of the Agenda, particularly in plugging funding gaps.

Mahmadamin Mahmadaminov (Tajikistan), Vice President of the Economic and Social Council, in opening remarks, said that strengthening the mobilization of domestic resources would be crucial to ensuring that countries had the financial means to achieve sustainable development. Today’s meeting provided an opportunity to discuss a range of key issues for international cooperation in tax matters.

Taxation had been featured prominently in the Economic and Social Council forum on financing for development follow up, where participants urged additional international efforts to ensure that the views of developing countries were fully reflected in all decision making processes, he continued. Participants had called for greater efforts to increase capacity building efforts to enable countries to address the emerging challenges linked to taxation in the digitalized economy. While Member States had agreed to consider not requesting tax exemptions on goods and services delivered as Government to Government aid, some had requested tax exemptions for their official development assistance (ODA) funded projects, which could result in notable consequences for recipient countries.

The Addis Agenda gave a mandate to increase the engagement of the Committee of Experts on International Cooperation in Tax Matters with the Council to enhance intergovernmental consideration of tax issues at the United Nations. During the last four days, new members of the Committee convened for the first time in New York. The Committee looked forward to working with the Council on two major topics: Taxation and the Digitalization of the Economy and Taxation of ODA funded Projects.

Elliot Harris, Assistant Secretary General for Economic Development and Chief Economist, said taxation provided a critical source of finance to Governments for the provision of public services that would be vital for sustainable development. International cooperation on tax matters was a key enabler for ensuring that countries could collect their appropriate share of taxes, while minimizing the negative impacts on other economies. Stressing that there was a need to adapt national and international tax rules according to new business models made possible by digital technology, he noted that overall progress in that area had been incremental.

Many developing countries had not adopted the necessary laws or amended their administrative practices, he said, calling attention to slow progress in the area of corporate taxes. A new sense of urgency had emerged among many developed and developing countries and some had already taken, or were considering, unilateral actions. Some donors of ODA continued to request wide exemptions, which could represent as much as 3 per cent of gross domestic product (GDP) in some countries. Requesting tax exemptions from developing countries for ODA projects led to several challenges, he continued, suggesting that the Committee consider updating and strengthening the guidelines at the technical level to capture relevant developments from the past decade.

Providing an update on the work of the Committee of Experts on International Cooperation in Tax Matters were its Co Chairs, Eric Nii Yarboi Mensah, who also serves as Assistant Commissioner of the Revenue Authority of Ghana; and Carmel Peters, also Policy Manager of Inland Revenue of New Zealand.

Mr. Mensah said the current Committee membership was appointed in July 2017 and had a four year mandate, with its term ending in June 2021. The Secretary General appointed members of the Committee and they served in their personal capacity. He recalled that in its first meeting, for the first time in its history, the Committee had appointed two members to serve as Co Chairs. Ms. Peters pointed out that the Committee was in the initial stages of its four year cycle. The Committee would carry out four day meetings in Geneva and New York, although much of the work was being carried out by various subcommittees. Ms. Peters and Mr. Mensah also went on to detail the recent work of the subcommittees.

Throughout the day, the Council held three panels on tax matters which included: Taxation and the Digitization of the Economy; Taxation of ODA Funded Projects; and Strengthening Tax Capacity in Developing Countries: Inter Agency Platform for Collaboration on Tax.

Following the panel sessions, a general discussion was held where Member States stressed the need for ensuring developing countries’ participation in tax related initiatives and for continued dialogue on tax matters.

Expressing deep concern that there was still no single global inclusive forum for international tax cooperation at the intergovernmental level, the representative of Egypt, speaking on behalf of the Group of 77 developing countries and China, stressed the lack of a global, transparent process on setting the norms and standards of international tax regime continues to be problematic with the agenda and design of the ongoing tax reforms.

That view was shared by the representative of Nigeria, who spoke on behalf of the African Group, and stressed the need for greater international tax cooperation which would allow all countries to participate on a truly equal footing, with a view towards delivering on a legally binding convention.

Bulgaria’s representative, speaking on behalf of the European Union, said that enhancing domestic resource mobilization was key to all Governments’ efforts to achieve inclusive growth, poverty eradication and sustainable development. She underscored that the Union and its member States would work with partner countries to promote progressive taxation, anti corruption measures and redistributive public expenditures policies.

At a time when international taxation norms and standards were undergoing rapid transformations, developing countries needed to be fully integrated and active participants in those discussions, warned the representative of Brazil, pointing to the digitalization of the world economy as a serious threat to the revenues of many developing countries.

On that point, the representative of Thailand stressed that national efforts alone would not be enough; calling for a revision of international tax practices that moved away from conventional income tax collection practices.

Mexico’s delegate said technology had a key role to play in bolstering tax administration by making tax collection more efficient, helping in the fight against tax evasion and avoidance, while also combating illicit financial flows.

In closing remarks, Mr. Mahmadaminov welcomed today’s discussion, specifically regarding the Tax Committee’s ambitious work programme in areas such as double tax treaties, transfer pricing, extractive industries taxation and tax consequences of the digitalized economy. The Council also heard about taxation and the digitalized economy, with speakers elaborating on the need for concerted action to ensure that established principles of international taxation could be adapted to the evolving global market for digital goods and services. Today’s discussions also centred on challenges that arose for ODA receipt countries from the requests for tax exemptions by donor countries.

He welcomed the plan to further strengthen support to developing countries to increase their tax revenues for investment in sustainable development. Today’s meeting demonstrated that much work was still needed to build a global tax architecture, he said, calling on Council members to identify the topics and areas of work where it was possible to promote real progress in international tax cooperation. The Council must make full use of its platforms to work towards concrete results that strengthened international tax cooperation.

Also delivering statements today were the representatives of South Africa, India, Colombia and Ecuador.

The Economic and Social Council will meet again at 9 a.m. on Monday, 21 May, for the 2018 high level meeting of the Development Cooperation Forum.

Source: United Nations

Taxation Only Way to Ensure Future Economic, Social Development, Speaker Tells Special Meeting of Economic and Social Council

The only way to ensure sustainable economic development was through taxation, Babatunde Fowler, Executive Chairman of the Federal Inland Revenue Services of Nigeria, told the Economic and Social Council today as it held its special meeting on international cooperation in tax matters.

Mr. Fowler, in his keynote address, outlined various taxation challenges facing his country and the overall continent. Africa was said to have 30 per cent of the world’s natural resources, and yet remained the poorest continent. In the 1970s, Nigeria discovered that while it had generated a significant amount of money selling oil, it had little to do with controlling the price. Having exported its resources in crude form, Nigeria later learned that they were resold for much more. Gold and other metals and minerals used to create jewellery only accounted for 20 per cent of the price of the final product. He expressed concern that most developing countries were consuming economies rather than manufacturing ones.

He noted that other tax challenges included large informal sectors, poor tax culture, lack of tax knowledge and poor legislation. Another significant challenge to Africa was the issue of illicit financial flows involving multinational corporations, which were involved in profit shifting from the African continent to the developed world. That called for global attention and a global solution. Donor aid will not be there forever, assistance will not be there forever, he added, reiterating that the only way for future economic and social development was through taxation.

To keep up with digital trends, Nigeria had adopted the strategy of digitalized taxation to assist in tracking and taxing transactions conducted online and in real time, he said. In Nigeria, the introduction of an end to end tax administration platform as well as various compliance and payment platforms contributed to the registration of more than 800,000 new corporate taxpayers in the last year. That had increased the tax database over 50 per cent and corresponding tax revenue growth in the non oil sector between 2015 and 2017 to an average of 64.3 per cent from 42.8 per cent.

Due to the absence of a universally agreed taxing approach, countries were adopting unilateral measures, he continued, noting the goals of the Addis Ababa Action Agenda which included mobilizing domestic public finances and facilitating development cooperation to support the implementation of the Agenda, particularly in plugging funding gaps.

Mahmadamin Mahmadaminov (Tajikistan), Vice President of the Economic and Social Council, in opening remarks, said that strengthening the mobilization of domestic resources would be crucial to ensuring that countries had the financial means to achieve sustainable development. Today’s meeting provided an opportunity to discuss a range of key issues for international cooperation in tax matters.

Taxation had been featured prominently in the Economic and Social Council forum on financing for development follow up, where participants urged additional international efforts to ensure that the views of developing countries were fully reflected in all decision making processes, he continued. Participants had called for greater efforts to increase capacity building efforts to enable countries to address the emerging challenges linked to taxation in the digitalized economy. While Member States had agreed to consider not requesting tax exemptions on goods and services delivered as Government to Government aid, some had requested tax exemptions for their official development assistance (ODA) funded projects, which could result in notable consequences for recipient countries.

The Addis Agenda gave a mandate to increase the engagement of the Committee of Experts on International Cooperation in Tax Matters with the Council to enhance intergovernmental consideration of tax issues at the United Nations. During the last four days, new members of the Committee convened for the first time in New York. The Committee looked forward to working with the Council on two major topics: Taxation and the Digitalization of the Economy and Taxation of ODA funded Projects.

Elliot Harris, Assistant Secretary General for Economic Development and Chief Economist, said taxation provided a critical source of finance to Governments for the provision of public services that would be vital for sustainable development. International cooperation on tax matters was a key enabler for ensuring that countries could collect their appropriate share of taxes, while minimizing the negative impacts on other economies. Stressing that there was a need to adapt national and international tax rules according to new business models made possible by digital technology, he noted that overall progress in that area had been incremental.

Many developing countries had not adopted the necessary laws or amended their administrative practices, he said, calling attention to slow progress in the area of corporate taxes. A new sense of urgency had emerged among many developed and developing countries and some had already taken, or were considering, unilateral actions. Some donors of ODA continued to request wide exemptions, which could represent as much as 3 per cent of gross domestic product (GDP) in some countries. Requesting tax exemptions from developing countries for ODA projects led to several challenges, he continued, suggesting that the Committee consider updating and strengthening the guidelines at the technical level to capture relevant developments from the past decade.

Providing an update on the work of the Committee of Experts on International Cooperation in Tax Matters were its Co Chairs, Eric Nii Yarboi Mensah, who also serves as Assistant Commissioner of the Revenue Authority of Ghana; and Carmel Peters, also Policy Manager of Inland Revenue of New Zealand.

Mr. Mensah said the current Committee membership was appointed in July 2017 and had a four year mandate, with its term ending in June 2021. The Secretary General appointed members of the Committee and they served in their personal capacity. He recalled that in its first meeting, for the first time in its history, the Committee had appointed two members to serve as Co Chairs. Ms. Peters pointed out that the Committee was in the initial stages of its four year cycle. The Committee would carry out four day meetings in Geneva and New York, although much of the work was being carried out by various subcommittees. Ms. Peters and Mr. Mensah also went on to detail the recent work of the subcommittees.

Throughout the day, the Council held three panels on tax matters which included: Taxation and the Digitization of the Economy; Taxation of ODA Funded Projects; and Strengthening Tax Capacity in Developing Countries: Inter Agency Platform for Collaboration on Tax.

Following the panel sessions, a general discussion was held where Member States stressed the need for ensuring developing countries’ participation in tax related initiatives and for continued dialogue on tax matters.

Expressing deep concern that there was still no single global inclusive forum for international tax cooperation at the intergovernmental level, the representative of Egypt, speaking on behalf of the Group of 77 developing countries and China, stressed the lack of a global, transparent process on setting the norms and standards of international tax regime continues to be problematic with the agenda and design of the ongoing tax reforms.

That view was shared by the representative of Nigeria, who spoke on behalf of the African Group, and stressed the need for greater international tax cooperation which would allow all countries to participate on a truly equal footing, with a view towards delivering on a legally binding convention.

Bulgaria’s representative, speaking on behalf of the European Union, said that enhancing domestic resource mobilization was key to all Governments’ efforts to achieve inclusive growth, poverty eradication and sustainable development. She underscored that the Union and its member States would work with partner countries to promote progressive taxation, anti corruption measures and redistributive public expenditures policies.

At a time when international taxation norms and standards were undergoing rapid transformations, developing countries needed to be fully integrated and active participants in those discussions, warned the representative of Brazil, pointing to the digitalization of the world economy as a serious threat to the revenues of many developing countries.

On that point, the representative of Thailand stressed that national efforts alone would not be enough; calling for a revision of international tax practices that moved away from conventional income tax collection practices.

Mexico’s delegate said technology had a key role to play in bolstering tax administration by making tax collection more efficient, helping in the fight against tax evasion and avoidance, while also combating illicit financial flows.

In closing remarks, Mr. Mahmadaminov welcomed today’s discussion, specifically regarding the Tax Committee’s ambitious work programme in areas such as double tax treaties, transfer pricing, extractive industries taxation and tax consequences of the digitalized economy. The Council also heard about taxation and the digitalized economy, with speakers elaborating on the need for concerted action to ensure that established principles of international taxation could be adapted to the evolving global market for digital goods and services. Today’s discussions also centred on challenges that arose for ODA receipt countries from the requests for tax exemptions by donor countries.

He welcomed the plan to further strengthen support to developing countries to increase their tax revenues for investment in sustainable development. Today’s meeting demonstrated that much work was still needed to build a global tax architecture, he said, calling on Council members to identify the topics and areas of work where it was possible to promote real progress in international tax cooperation. The Council must make full use of its platforms to work towards concrete results that strengthened international tax cooperation.

Also delivering statements today were the representatives of South Africa, India, Colombia and Ecuador.

The Economic and Social Council will meet again at 9 a.m. on Monday, 21 May, for the 2018 high level meeting of the Development Cooperation Forum.

Source: United Nations

Royal Wedding Cheered by Huge Crowds, Millions Tune in Worldwide

Britain’s Prince Harry, who is sixth in line to the throne, and American actress Meghan Markle married Saturday in a ceremony in Windsor, just outside London.

“Walt Disney could not have dreamt up a a better princess than Meghan Markle,” said Britain’s Telegraph newspaper.

Beneath cloudless skies, hundreds of thousands of people lined the streets of the historic town to catch a glimpse of the bride-to-be as she arrived at Windsor Castle in a Rolls-Royce Phantom.

There were cheers from the crowd as she stepped onto the grounds of the castle’s Saint George’s Chapel, revealing for the first time her choice of wedding gown.

The simple yet elegant pure white dress was designed by Clare Waight Keller, the first British designer for the French fashion house Givenchy. The sweeping 5-meter train was carried by 7-year-old pageboys John and Brian Mulroney, the twin sons of one of Meghan’s best friends.

The bride walked up part of the aisle by herself, before being met halfway by her now father-in-law Prince Charles, who led her to the altar to a waiting Prince Harry.

Markle’s father, Thomas, was too ill to attend the ceremony, having reportedly undergone heart surgery this week.

The Archbishop of Canterbury, Justin Welby, conducted the ceremony and proclaimed the royal couple husband and wife shortly after 12:30 local time.

The wedding was drenched in British tradition and enlivened with African American culture, a nod to Meghan’s ancestry. Her father is white and her mother is African American.

The Most Reverend Michael Curry, the head of U.S. Episcopalian Church, who is African American, gave an address, beginning with a quote from civil rights leader Martin Luther King Jr.: “We must discover the redemptive power of love, and when we do that, we will make of this old world a new world.”

Soprano Elin Manahan Thomas sang during the service.

The 600 guests included Meghan’s mother, Doria Raglan; Hollywood actor George Clooney and his lawyer wife, Amal; talk-show host Oprah Winfrey; tennis star Serena Williams; David and Victoria Beckham; Sir Elton John and his husband, David Furnish; and several fellow members of the cast of Markle’s former television program Suits, including her on-screen husband, Patrick J. Adams.

Two of Prince Harry’s former girlfriends, Cressida Bonas and Chelsy Davy, also attended.

The newlyweds emerged onto the steps of St. George’s Chapel and received a huge cheer as they kissed in front of the crowds. A horse-drawn carriage then took them through the streets of Windsor, delighting onlookers, many of whom had been camping out for days to secure the best spots. Many fans began chanting Meghan’s name.

“It was beautiful, to be part of history, to be part of history, to see that up close like that. She was absolutely radiant, she was sparkling. Harry just looked so happy � you could see the joy in his eyes. We were this close and it was just wonderful,” said royals fan Lindsay Hainer.

Queen Elizabeth bestowed new titles upon the royal couple. They will now be known as the Duke and Duchess of Sussex.

The U.S. ambassador to Britain, Woody Johnson, took to Twitter to offer his congratulations, writing: “On behalf of all Americans, I want to wish HRH Prince Harry & Meghan Markle a very happy future as they begin married life together.”

Elton John performed at the reception in Windsor Castle, where the canapes included Scottish langoustines, British asparagus and Windsor lamb. The wedding cake was flavored with Italian Amalfi lemon curd and British elderflower buttercream.

There was another reception Saturday night for the couple and 200 of their closest friends, hosted by Harry’s father, Prince Charles. Megan changed into another white gown, designed by Stella McCartney, and Harry exchanged his military uniform for a classic tux.

Hundreds of millions of people around the world were thought to have watched the ceremony unfold on television. Observers said there would be relief within the royal household that the ceremony went off without a hitch, following the uncertainty in the run-up to the big day over whether Markle’s father would attend.

Speaking to the celebrity news site TMZ from Mexico, Thomas Markle said after the ceremony, “My baby looks beautiful and she looks very happy.”

“I wish I were there and I wish them all my love and happiness,” he added.

The marriage of the new Duke and Duchess of Sussex marked a further modernization of the ancient British institution. In past generations, members of the royal family usually married other members of European aristocracy.

The new duchess will receive plenty of help and training on how to get by in one of the most high-profile positions in global public life. Founder of the British Monarchist Society Thomas Mace-Archer-Mills said the former actress was well-prepared for life in the limelight:

“The skills on screen will carry over to the royal stage. So when she’s on parade with the rest of the royal family, she will have it down to a T.”

Both Harry and Meghan have voiced their desire to continue to work together on their shared passion for charity, particularly in Africa.

Tuesday they will embark on their first royal appearance together at a garden party at Buckingham Palace to honor Prince Charles and his charity work.

There is no word on when they will take a honeymoon, but there is much public speculation around their choice of destination. African countries topping the list of favorites include Botswana, Namibia and Malawi; while the new duchess is thought to be a fan of Italy, the Philippines and Turkey.

Source: Voice of America

President Cyril Ramaphosa: Volvo Group Southern Africa’s Youth Employment Initiative event

Address by President Cyril Ramaphosa at Volvo Trucks Youth Development Event, Volvo Assembly Plant, Amanzimtoti, Durban

Programme Director,

President of Volvo Group South Africa, Mr TorbjAlrn Christensson,

Volvo Group Director, Mr Delani Mthembu,

Volvo Trucks Management,

Distinguished guests,

Ladies and gentlemen,

I’d like to take this opportunity to thank Volvo for its continuing investment in the South African economy and its commitment in particular to the empowerment and development of our youth.

Volvo is one of those companies who believe that it is not enough to invest in factories, machinery and supply chains.

They believe it is necessary also to invest in society.

This is motivated by a desire to contribute to building a better South Africa, to be part of the effort to correct the social and economic injustices of our past.

It is rooted in an understanding that business is not separate from society, but inextricably bound to the fortunes of its people.

As poverty, unemployment and inequality decline, businesses grow.

As young people gain skills and work experience, businesses thrive.

And as business grow and thrive � and employ more people and pay better wages � so the lives of ordinary people improve.

The greatest challenge to social development in South Africa � and to economic development � is the high rate of youth unemployment.

We therefore applaud Volvo for making youth development such an integral part of its social investment programme.

We all share a responsibility to develop the skills of young South Africans and ensure that these skills are suited to the needs of our economy, now and into the future.

This means that the basic education system needs to retain more learners through to matric and to improve the quality of the education they receive.

It means that we need to ensure greater access to universities and colleges for the children of the poor and working class.

The phased introduction of free higher education from this year promises to contribute to a skills revolution in this country.

This needs to be accompanied by a concerted effort to involve the private sector in supporting and designing curricula, particularly at TVET colleges and in certain university faculties.

We need to ensure that these institutions are producing the kind of skills that are needed in the economy � in a Volvo truck factory, for example � and that students have opportunities to work in these environments during the course of their study.

We all share a responsibility to ensure that young people gain the confidence, capabilities and exposure to succeed in the working environment.

That is why we have prioritised the development of pathways into work for young people.

This includes the Youth Employment Service initiative, which we launched together with our social partners in March.

This initiative, which provides work experience opportunities for young people on a scale never before seen in this country, is the result of effective collaboration between business, government and labour.

It demonstrates the willingness of business to be part of finding solutions to youth unemployment.

We call on companies to join the programme, not only to increase the chances of employment for many thousands of young people, but also so that the companies themselves can develop the young workforce that they will need to expand and grow.

The success of our efforts will be judged by the extent to which they create more employment and education opportunities for young people.

Ladies and gentlemen,

During the State of the Nation Address in February, we undertook to build further on the collaboration with business and labour to restore confidence and prevent any further decline in our sovereign rating.

We said this would involve making hard decisions to close our fiscal gap, stabilise our debt and restore our state-owned enterprises to health.

We are working to address the decline over many years of our manufacturing capacity, which has deeply affected employment and exports.

We are working to re-industrialise on a scale and at a pace that draws millions of job seekers into the economy.

That is why we are making a major push this year to encourage significant new investment in our economy.

Culminating in an investment conference in October, we have deployed four special envoys on investment to meet with potential investors, to brief them on the advantages of investing in South Africa, and to alert them to the many diverse opportunities that exist across the economy.

They will be supported by key agencies like Invest SA, which is responsible for promoting and facilitating investment the country.

Through this work we aim to encourage more business people, labour leaders and ordinary South Africans to become investment envoys.

Starting here with the Volvo Group, we want to encourage corporates not only to expand their operations, but also to persuade their counterparts across the world to invest in the South African economy.

Starting here with the Volvo Group, we want to cultivate a huge cohort of investment envoys that understand the economy, that can see the opportunities and that can direct potential investors to where they can find assistance.

Starting here, we want to build an investment movement, which reaches every corner of the country, which permeates every organ of the state and which seeks out every opportunity to mobilise productive investment.

We are concentrating on the types of investment that create employment and which adds value to the natural resources that we have in abundance.

We are concentrating on the types of investment that will contribute to the growth of a diversified economy that is not dependent on the export of raw commodities.

We are concentrating on the types of investment that will create shared value, producing sustainable financial gains for investors and broader benefits for their employees, suppliers, communities and other stakeholders.

All of this work requires partnership and collaboration.

It requires a society that is working towards a common goal.

It requires companies like Volvo, who are committed to their investment in the country, who are keen to expand their operations, who understand their social responsibilities and are working hard to fulfil them.

It requires companies like Volvo, who invest in the development of our youth and who champion the needs of our people.

South Africa is a country with boundless potential.

Through working together, with commitment and diligence, I have no doubt that we will succeed in realising that potential.

I thank you.

Source: Government of South Africa