Business executives from several European businesses based in Johannesburg had the chance to speak with Deputy President Paul Mashatile about their worries regarding electricity, logistics, talent development, and the protracted nature of business visas.
AB InBev, Alstom, B Braun, BMW, Bureau Veritas, Engie, Heineken, Interwaste, Siemens, Total Energies, Unilever, and Volkswagen were a few of the organisations represented by almost 40 CEOs and senior leadership executives who attended the event.
The French South Africa Chamber of Commerce and Industry (FSACCI) and the public affairs firm The African Storyteller organised the conversation.
In a statement released on July 20, the Presidency said that Mashatile had “robust and progressive discussions” with the business executives and that the conversation had aided in capturing knowledge on how to grow the economy and increase job opportunities.
According to African Storyteller MD Thuli Phiri, it is crucial for business and government to work together to grow the economy and the well-being of South Africans.
Dr. Yves Guenon, chairwoman and CEO of FSACCI, noted that regular interactions with the government were necessary for businesses to develop and contribute to the economy because everything the government did affected businesses either directly or indirectly.
Mashatile concurred that investor trust was crucial for fostering economic development and ensuring the prosperity of the country. He praised large corporations for their tenacity amid the Covid-19 outbreak and the protracted low growth era.
The Red Tape Reduction Task Team, which the President established to reduce excessively complex rules, regulations, procedures, and processes that impede economic growth and job creation in important sectors, is streamlining regulatory procedures, he assured the business leaders.