Zwane welcomes Japanese support

Japan’s increased support for SA comes despite tough global conditions.

Cape Town - Mineral Resources Minister Mosebenzi Zwane on Wednesday welcomed a commitment by the Japanese government to increase its investment in South Africa.

The additional investment comes despite the current downturn in the global economy.

“We are encouraged by the continuous support from the Japanese government and companies, and that they are prioritising South Africa,” Zwane said on Wednesday in response to a presentation made by the Japanese delegate at the Investing in African Mining Indaba in Cape Town on Tuesday.

According to the Department of Mineral Resources (DMR), Zwane also met with Japan's vice minister of Economy, Trade and Industry, Tsuneo Kitamura, on the sidelines of the Mining Indaba on Tuesday.

“It gives us confidence that our country remains a preferred investment destination. Investors are taking a long-term view and are not discouraged by the current downturn in the cycle,” Zwane added.

Also read: Zwane: SA is open for business

The DMR statement added Japan is a major trading partner of South Africa's, with about 140 companies active in the country, which had resulted in the creation of more than 150 000 jobs.

In August, deputy president Cyril Ramaphosa made an official visit to Japan with a high-level ministerial delegation and several captains of industry to promote South Africa as a preferred destination for foreign direct investment and trade.

AFRICAN NEWS AGENCY