Latest news with #ShipokosaPaulusMashatile
IOL News
18-07-2025
- Business
- IOL News
Mashatile calls for increased Chinese investment as trade deficit with China surges
Deputy President Shipokosa Paulus Mashatile delivers a keynote address at the South Africa-China Investment Forum, as part of his working visit to the People's Republic of China. Banele Ginidza Deputy President Paul Mashatile has issued a compelling invitation to Chinese corporations, advocating for increased investment in South Africa. Speaking at the South Africa-China Investment Forum in Beijing on Thursday, Mashatile highlighted a significant shift in the trade dynamics between the two nations, revealing that the trade deficit with China has escalated dramatically from less than $1 billion in the period between 1988 and 2000 to an alarming $9.71bn by 2023. Mashatile said ddressing these challenges necessitated expanding South Africa's export portfolio, encouraging value-added exports, and establishing a more balanced trade relationship. "We need to develop a more coordinated and strategic approach. We need to address challenges such as access to the Chinese market due to factors like tariff and non-tariff barriers, distance, and competition from other countries," Mashatile said. The essence of this trade imbalance, as Mashatile pointed out, stems from the current nature of the economic relationship where South Africa primarily exports raw materials and minerals while predominantly importing manufactured and capital goods from China. This disparity has raised concerns regarding the sustainability of such a model, particularly as both South Africa and China navigate increasing tariff barriers imposed by the United States. "As South Africa-China relations continue to deepen, new opportunities emerge for Chinese businesses seeking to enter the South African market, particularly in sectors such as renewable energy, green hydrogen, energy storage, infrastructure and logistics, our Special Economic Zones (SEZs), pharmaceuticals and medical devices, and the beneficiation of critical minerals, as well as in the digital economy," he said. Mashatile said South Africa sought to attract investments to increase greenfield investments, infrastructure investments, unlock funding or financial support, partnerships with SOEs, technology transfer and innovation partnerships, investments in SEZs and industrial parks, black industrialist partnerships, as well as capacity and technical assistance for SEZs. "Our SEZs offer an internationally competitive value proposition for the country with an attractive suite of incentives," Mashatile said. "They are located across the country, and each SEZ has unique offerings for investors, some of which could include tax relief, reduced corporate rate taxes and reduced costs for key inputs such as land, water and electricity." Mashatile highlighted the infrastructure investment plan as being in place to drive a range of projects in energy, water and sanitation, transport, digital infrastructure, human settlements, and agriculture and agro-processing. "The plan is supported by an Infrastructure Fund, offering investment opportunities in water development and irrigation projects across nine provinces, a road network expansion, a rehabilitation and maintenance program for construction companies, and high-demand spectrum," he said. Mashatile said South Africa's mineral exports, agricultural commodities, and manufactured items have achieved significant penetration in the Chinese market, aided by a steady flow of investment from Chinese companies since the announcement of President Cyril Ramaphosa's investment mobilisation drive. He said some of the existing partnerships included a major significant investment by the Industrial and Commercial Bank of China (ICBC), which purchased a 20% stake in the assets and earnings of Standard Bank for $5.5bn. Another major Chinese electronics manufacturer, Hi-Sense, entered the South African market in 1997. In 2013, the company established an industrial park. Mashatile cited other Chinese flagship companies such as Zhong Xing Communications (ZTE) and Huawei Technologies that were also expanding their presence in South Africa. "Over the last decade, 48 Chinese companies invested in South Africa with a capital investment of over $11.69bn," he said. BUSINESS REPORT
Zawya
17-04-2025
- Business
- Zawya
South Africa: Deputy President Mashatile receives courtesy visit from Mr Gao Yunlong
Deputy President Shipokosa Paulus Mashatile has today, Thursday, 17 April 2025, received a courtesy visit from His Excellency Mr Gao Yunlong, Vice-Chairman of the 14th National Committee of Chinese People's Political Consultative Conference (CPPCC) and the Chairman of the All-China Federation on Industry and Commerce (ACFIC), at the O.R Tambo Official Residence in Pretoria, Gauteng Province. Established in 1953, the ACFIC is a mass organisation and chamber of commerce led by the Communist Party of China with non-public economic activities as the principal composition and with unified, economic and non-governmental characteristics. It is also a bridge linking the Party and the government with people in non-public economic activities, an assistant to the government in managing and serving the non-public economy and an important part of the Chinese People's Political Consultative Conference. The courtesy visit to the Deputy President forms part of the high-level engagements between South Africa and China, which are key to strengthening bilateral relations and advancing political, trade and investment cooperation. The Deputy President welcomed the recent elevation of diplomatic relations between the Republic of South Africa and the People's Republic of China to an All-Round Strategic Cooperative Partnership in a New Era, and expressed South Africa's commitment to continuing exchanges of high-level engagements with China. "Our economic partnership must reflect this elevation. We continue to call on China to work with South Africa in changing the trade structure and diversifying market access for value-added products to close the concerning trade deficit," said the Deputy President. Discussions also focused on enhancing cooperation in health, the automotive and energy sectors, which will contribute to local job creation, technology, and skills transfer. transformation, and skills development. "It is essential to underscore the significant role that China's support plays in advancing health cooperation, an area where both sides have made meaningful progress in fostering collaboration. This partnership continues to be a vital aspect of our growing bilateral relations." With South Africa preparing to host the G20 Summit in November 2025, the Deputy President emphasised the importance of China's role as a global development partner. "President Xi Jinping's visit to South Africa for the G20 Summit in November of this year will be a momentous occasion for South Africa's Presidency of the G20, under the theme "Solidarity, Equality, Sustainability," said Deputy President Mashatile. The Deputy President was supported by the Acting Minister of International Relations and Cooperation, Ms Khumbudzo Ntshavheni, and the Minister of Trade, Industry and Competition, Mr Parks Tau. Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.
Zawya
08-04-2025
- Politics
- Zawya
South Africa: Deputy President Mashatile convenes the Water Task Team
Deputy President Shipokosa Paulus Mashatile has today, 08 April 2025, at the Union Buildings in Pretoria, convened a meeting of the Water Task Team, comprised of the Ministers responsible for the Departments of Water and Sanitation, COGTA, Finance, Human Settlements, Public Works and Infrastructure, Agriculture, Police, Electricity as well as Land Reform and Rural Development. The meeting took place following a successful Water and Sanitation two-day Indaba hosted by the Department of Water and Sanitation, which received inputs from President Cyril Ramaphosa, Deputy President Mashatile, Ministers as well as Representatives of Water Boards, Management Agencies, SALGA, Traditional Leaders, Civil Society and sector experts. Today's meeting received presentations from the Department of Water and Sanitation, the Department of Cooperative Governance and Traditional Affairs, Human Settlements and Infrastructure South Africa. Issues discussed included measures and interventions by the departments to work towards resolving the challenges of water and reticulation. In particular, the meeting noted issues such as the non-payment for water services, lack of effective reticulation, declining infrastructure and capacity challenges at the local government level. The meeting then agreed to intervene within the prescripts of existing legislation, also directing that all budgetary allocations for water in various departments be pooled together to ensure effectiveness. An update was also received on ongoing work under the Strategic Integrated Projects initiative by Government to create water retention facilities as well as enhancement of water treatment plants. The Water Task Team also resolved after discussion to accelerate the formalisation of informal settlements, which will assist with the provision of services to residents. This applies to 4 076 illegal settlements who use illegal means to connect to water. Furthermore, it was agreed that all incomplete water projects must be completed and to that effect, the meeting requested departments to review their turn-around times on water projects. The meeting then proposed a structured mechanism for effective coordination in the form of the following workstreams: Workstream 1 - Responses to water supply disruptions in prioritised areas, Workstream 2 - National and Municipal water institutional reforms, Workstream 3 - Accelerating private investment in municipal water services, (through the Partnership Office) Workstream 4 - Improving municipal sanitation services and management of wastewater, Workstream 5 - Improving turn-around time in regulation and funding, Workstream 6 - Institutional reforms (led by COGTA, SALGA, DWS&Human Settlements, and Workstream 7 – Communication. Deputy President Mashatile commended the work and interventions of the various departments in the area of water supply and preservation. Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.
Zawya
16-03-2025
- Business
- Zawya
South Africa: Deputy President Mashatile arrives in Japan on a Working Visit
Deputy President Shipokosa Paulus Mashatile has today, 16 March 2025 arrived at Narita International Airport in Tokyo, Japan on a Working Visit aimed at reaffirming the strong cooperation between South Africa and Japan in areas of mutual interest. The two countries enjoy well-established diplomatic relations which are particularly strong in the fields of trade and investment, education, science and technology. Japan is one of South Africa's major economic partners with a sizeable investment in the South African economy, and potential for increased investment exists. During the working visit, the Deputy President and delegation will engage the business community in Japan with the objective of strengthening economic relations in areas such as manufacturing and machinery, mining and mineral beneficiation, energy cooperation, the automotive industry and greater market access for South Africa's agricultural products, amongst others. In this regard, the Deputy President and delegation will on Monday 17 March 2025 visit the Isuzu Fujisawa Plant Service, a Japanese multinational corporation that produces commercial vehicles, diesel engines and automotive parts, and has a significant presence in South Africa. The Deputy President will also meet with Dr. Akhiko Tanaka, President of the Japan International Cooperation Agency (JICA), a Japanese government agency that has been actively involved in various development projects in South Africa. On Tuesday, 18 March 2025, the Deputy President and delegation will have a breakfast meeting with Japan-African Union Parliamentary Friendship League, which seeks to promote economic cooperation and trade between Japan and African countries. Furthermore, the Deputy President will pay a courtesy call on His Excellency Prime Minister Ishiba Shigeru and visit the Meiju Jingu Shinto Shrine. The Deputy President will also deliver a keynote address at the United Nations University under the theme "South Africa's G20 Presidency: Solidarity, Equality, Sustainability - a conversation with Japan. On Wednesay 19 March 2025, the Deputy President and delegation will participate in Roundtable Discussions hosted by the Japan External Trade Organisation (JETRO) and Japan Organisation for Metals and Energy Security (JOGMEC). The Deputy President will also host South African Rugby players based in Japan at the South African Official Residence. The Deputy President is supported by the Deputy Minister of International Relations and Cooperation, Ms. Tandi Moraka; the Minister of Sport, Arts&Culture, Mr. Gayton McKenzie; the Minister of Higher Education, Dr. Nobuhle Nkabane; the Minister of Agriculture Mr. John Steenhuisen; the Minister of Trade Industry and Competition, Mr. Parks Tau; and the Deputy Minister of Science, Technology and Innovation, Ms. Nomalungelo Gina. Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.
Zawya
15-03-2025
- Business
- Zawya
South Africa: Deputy President Mashatile to undertake a working visit to Japan
Deputy President Shipokosa Paulus Mashatile will on 16 - 19 March 2025, undertake a working visit to Tokyo in Japan, aimed at reaffirming the strong cooperation between South Africa and Japan in areas of mutual interest. The two countries enjoy well established diplomatic relations, and the year 2025 marks 115 years of such relations. The working visit by the Deputy President underscores South Africa's strong commitment and the importance that South Africa attaches to the relationship with Japan. During the working visit, the Deputy President and his delegation will meet with the Japanese Government and private sector stakeholders to advance South Africa's key economic growth drivers such as manufactured-led growth and increasing South Africa's exports. The Deputy President will be supported by the Deputy Minister of International Relations and Cooperation, Ms Tandi Moraka; the Minister of Sport, Arts&Culture, Mr Gayton McKenzie; the Minister of Higher Education, Dr Nobuhle Nkabane; the Minister of Agriculture, Mr John Steenhuisen; the Minister of Trade Industry and Competition, Mr Parks Tau; the Deputy Minister of Science, Technology and Innovation, Ms Nomalungelo Gina. Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.
