CAPE TOWN South Africa (Xinhua) --
South African President Jacob Zuma launched the Invest South
Africa One-Stop Shop on Friday as part of efforts to improve business
environment by improving the ease of doing business and lowering its cost.
“We are aware
that it is imperative to maintain or improve in these areas in order to have a
sustainable and competitive economy,” Zuma said at a ceremony in Pretoria.
government has thus taken a firm decision to make South Africa more
investor-friendly, he said.
Shop will be the focal point of contact for investors and government departments
involved in regulatory, registration, permits and licensing.
departments like Home Affairs, Labor, Environmental Affairs, Trade and Industry
and agencies such as the Companies and Intellectual Property Commission, SA
Revenue Service and electricity utility Eskom will be available at the One-Stop
this because foreign direct investment is critical to assist us to meet our
National Development Plan economic growth objectives of growing the economy and
to create much-needed jobs,” said the president.
announced the intention to set up the One-Stop Shop in August 2015.
are ready to launch this service. Three Provincial One-Stops will also be
launched this year in KZN (KwaZulu-Natal), Gauteng and Western Cape,” Zuma said.
provinces will open their One-Stop Shops over a period of three years, according
Shops is designed to attend to the needs of local and foreign investors who have
complained about the difficulties and hassles they face when wanting to
establish new businesses.
They have to
visit many departments to obtain various licenses and go to different offices
for water, electricity and immigration services such as visas.
government has acknowledged that bureaucratic red tape has been stifling the
growth of business.
the One-Stop Shop will ensure that we drastically reduce the red tape,” Zuma
will make an appointment, meet with a government representative to explain the
services required and be guided by the representative, Zuma explained.
Shop will provide a more coordinated, streamlined and professional service to
those who wish to set up a business,” he said.
African government passed the Protection of Investment Act in December 2015 to
strengthen legal safeguards for foreign investors as the country continued to
suffer from a number of legislative uncertainties that discourage foreign
South Africa dropped by a large number of places in the doing business ranking
published by the World Bank, which ranked the country 73rd out of 189
countries in 2016 compared to 69th of 189 in 2015.