South Africa has climbed two spots to become the 13th most attractive Foreign Direct investment (FDI) destination.
This is according to global A.T. Kearney’s 2014 Foreign Direct Investment Confidence Index.
According to the index, South Africa, which was ranked at number 15 in 2013, closed two major deals with international companies BP and Google, signalling a positive FDI trend for the country.
British oil major BP, for instance, announced a 550 million US dollar investment over five years while global search engine Google made its first renewable energy deal with South Africa’s Northern Cape Province for 12 million US dollars.
The South African government stated that they are humbled by the ranking as it shows that the country’s strategic partnership with foreign investors is gaining momentum. Continue reading