In a bid to boost economic growth and generate more employment in South Africa, South African High Commission in collaboration with South African Tourism has invited Indian companies and investors to invest in South Africa, mainly in tourism sector. "India is the third largest market in Asia and the number of Indians travelling overseas is set to rise from around 15 million today to 50 million by 2020, we see this as a great opportunity to attract Indian investors to explore avenues in the tourism sector," said South African High Commission, Deputy High Commissioner in India, M Mogale at a press conference held on Friday.
When asked about incentives and benefits that SA Government can give to the investors, Mogale told The Pioneer that it depends on the location and nature of the business. Some local authorities offer relaxation on electricity tariffs while others might give incentives on water usage. "If you are manufacturing in SA, you are creating employment opportunities in the country. Therefore, Government begins to lay assistance, no matter in what form it may come," he added.
South African High Commission also announced the new South African Immigration Policy. Under the new immigration policy, business executives from BRICS nations can get a visa up to 10-years, depending on the validity of the passport. The policy also gives an extended validity for intra company work permits. Further, it is now easier to get study permit, tourist visa, and residence permits (for life partners).
Also speaking at the occasion, South African High Commission, Minister Counsellor Economic Stefanus Botes said, "India has been identified as one of the emerging countries that can contribute to the growth of tourism sector and inward investment to South Africa." Botes later said that investing in SA creates opportunities for the foreign companies. A company established in SA can do business in SA and market its business in rest of Africa from SA. A company can even reach United States of America through African Growth and Opportunity Act (AGOA).
"We have consistently increased our marketing spends in India to promote tourism as it (India) is slated to become the biggest market for SA tourism by 2020, when we expect five lakh travellers. We are very optimistic about the Indian market and are expecting a double digit growth this year (about twelve per cent)," said South African Tourism Country Head, Hanneli Slabber.