PRETORIA MOVES TO CUT RED TAPE FOR INVESTORS

JOHANNESBURG– The government is forging ahead in its pursuit to eliminate the red tape hindering potential investors from gaining access to the South African economy, says Trade and Industry Minister Rob Davies.

Speaking at the launch of the Gauteng Province InvestSA One Stop Shop (OSS) here Tuesday, he said through the opening of InvestSA offices across the country, the government seeks to make investing in South Africa as seamless as possible.

We seek to smooth the way for investors and ease any regulatory hurdles they have to go through and shorten time frames for decisions and make sure they have a good experience in interacting with the different parts of government, added Davies.

Tuesday’s launch of the Gauteng office is the third InvestSA provincial office to be opened in the country. The KwaZulu-Natal provincial OSS opened its doors in November 2017 while the Western Cape’s OSS opened in September.

The aim of the InvestSA initiative is to provide strategic guidance, reduce regulatory inefficiencies as well as to reduce red tape for all investors looking to invest in South Africa. Among the roles of InvestSA is to promote both foreign and domestic investment.

The government launched the national OSS office at the Department of Trade and Industry premises in Pretoria in March 2017. Since then, 624 investor consultations were held and 21 regulatory issues were dealt with. This has facilitated a number of investments, said the Minister, who launched the Gauteng InvestSA alongside Gauteng Premier David Makhura.

Source: NAM NEWS NETWORK