Kuwait City: South African Minister of Public Works and Infrastructure Dean Macpherson announced that South Africa is prepared to offer substantial privileges to Kuwaiti companies to invest in the country's promising opportunities. Macpherson's statements came during an interview with KUNA at the conclusion of a two-day visit to Kuwait, where he emphasized South Africa's efforts to attract foreign investments as a strategy to stimulate economic growth.
According to Kuwait News Agency, the purpose of Macpherson's visit was to explore potential partnerships with Kuwait that could enhance joint investment efforts and align with South Africa's investment targets. Macpherson highlighted that, with the establishment of a national unity government last year, South Africa is implementing pro-market economic reforms designed to appeal to foreign investors. The country has unveiled numerous investment opportunities, especially in the construction sector.
During discussions on bilateral relations, Macpherson noted that South Africa and Kuwait maintain strong diplomatic ties with significant potential for mutually beneficial cooperation. He mentioned that South Africa has much to learn from Kuwait's expertise in utilizing natural resources for the benefit of its citizens. Additionally, Macpherson engaged with leaders of Kuwaiti corporations to address challenges facing South Africa.
South Africa has resolved several issues related to power and water supplies, which could unlock substantial opportunities for investors in sectors such as energy, transport, tourism, sanitary drainage, and infrastructure. Macpherson also mentioned regulatory amendments concerning public-private partnerships and requests for proposals, indicating promising prospects for successful collaborations between government and private sector entities.
Macpherson's visit to Kuwait on February 20-21 was part of a regional tour that also included stops in the United Arab Emirates, Saudi Arabia, and Qatar.