In order to attend the 7th Tokyo International Conference which will be focused on African development, the President is currently in Japan as South Africa is viewed by Japan as a strategic partner in Africa.
President of South Africa, Cyril Ramaphosa is in Japan nowadays for marketing SA as a destination ideal of investment and it is being expected that he will be meeting the bosses of the vehicle maker ‘Nissan’ as part of his official visit.
It is being said that he is attending the 7th Tokyo International Conference on African Development (Ticard), and will be partaking in the SA-Japan Business Forum at the Global Headquarters of Nissan in, Japan, on Wednesday.
The spokesperson of Ramaphosa Khusela Diko passed a statement which said that the President will be using the business engagement for sending an invitation to the international partners for experiencing South Africa as a trade partner, as well as, an ideal destination of investment. She added that Ramaphosa wants Japan to partake in the efforts of SA of reducing unemployment, securing sustainable, faster, as well as, all-inclusive economic growth.
In the first quarter of 2019, the economy declined by R56 billion which is equivalent to shrinkage of 3.2 percent, while the rate of unemployment climbed from 27.6 to 29 percent in the second quarter.
It was forecasted by the SA Reserve Bank that the growth in the gross domestic product will be 0.6 percent this year. Investment enjoys were appointed a year back by Ramaphosa in an attempt of raising 100 billion dollars in new investments over the coming 5 years.
A recovery plan was also tabled by him which consisted of a number of measures both non-financial and financial, aimed at sparking economic motion, prevent further unemployment, and restore the confidence of investors.