The South African government has officially launched a new investment facilitation service, dubbed InvestSA, which it claims will dramatically reduce red tape for foreign and domestic businesses seeking to pursue greenfield or brownfield projects in the country.
The service, which has both physical and virtual dimensions, is punted as a one-stop shop facility, bringing under one umbrella the various government departments and agencies investors deal with to secure the permits, licences and incentives required to facilitate their investments.
The national office, located at the Department of Trade and Industry’s (DTI’s) Pretoria Campus, was officially inaugurated by President Jacob Zuma on Friday, with three provincial offices to be rolled out in Gauteng, KwaZulu-Nataland the Western Cape later this year.
Trade and Industry Minister Dr Rob Davies says the one-stop shop was conceived together with the Presidential Business Working Group in 2015 and is a direct response to ongoing appeals from business for government to streamline the bureaucracy associated with investing in the country.
Besides the DTI, the national one-stop shop will house senior officials from the departments of Home Affairs, Labour and Environmental Affairs, as well as Eskom, the South African Revenue Service and the Companies and Intellectual Property Commission.
It will offer specialist advisory services to investors relating to South Africa’s economic, regulatory and legislative environment, while also showcasing the industrial financing incentives available.