S. African companies to invest here

"I am pleased to announce that SAPOA, South African Property Owners' Association, the biggest South African property owner only second to the Government of South Africa, is due in Sri Lanka in February 2013. In South Africa, they are 'the people with money' in real estate and properties," said High Commissioner of South Africa in Sri Lanka, Geoff Doidgein at a dinner hosted by the Export Development Board in honour of the visiting high level South African business delegation.

Chairman and CEO of EDB, Janaka Ratnayake, Director General, EDB, Sujatha Weerakoone, Executive Director - EDB, Yousuf Marikkar, officials from various local Business Chambers, private sector representatives and Sri Lankan exporters to South Africa were present.

This delegation is the largest South African business and industry delegation to visit Sri Lanka in recent trade history and it consisted of 30 leading business members of the Progressive Business Forum of African National Congress (ANC-PBF), the ruling ANC's business collective. The delegation was led by South Africa's Deputy Minister of Economic Development, Ms Hlengiwe Mkhize, and accompanied by core convenor of ANC-PBF (former Deputy Foreign Minister) Renier Schoeman, a spokesman for the Ministry of Industry and Commerce said.

Geoff Doidge said, "SAPOA is mulling huge 'initial investment' here. It is tentatively in the overall range of South African Rand one billion ($ 122 m)."

Secretary, Ministry of Industry and Commerce, Anura Siriwardene said the visit is very promising for businesses at both ends: "I observe that there has been nearly 70 percent total trade increase between the two countries in 2011 to $ 65.52 m. This shows that there is much unrealised scope for further trade enhancement between the two countries."

"We are confident that this bold and farsighted initiative will expand existing opportunities for our business communities thereby resulting in vigorous cooperation in bilateral trade," he said.

South Africa's Deputy Minister of Economic Development, Hlengiwe Mkhize said, "Our private sector representatives are talking seriously with Sri Lankan businesses. Cooperation in engineering, manufacturing, trade in general. I am quite happy. We are focusing on investments in infrastructure, water, and energy."

"I am pleased to inform you that a second business delegation from South Africa is due soon. That second business delegation will have a thrust (focus) of women with many leading SA women biz representatives including from the ANC-PBF".

Founder CEO of South Africa's mynextmail.com, Madoda Khuzwayo said, "I believe there are huge gains for us in cloud computing in the sub continental South Asia as part of overall entry to Asia."