Infrastructure development projects were set to play an important role in turning around South Africa’s stagnant economy, President Cyril Ramaphosa said on Tuesday at the opening of a hotel and conference centre in Johannesburg east.
He said the government planned to focus on new infrastructure developments, a move which would be critical in job creation.
“Our economy has been plunged into turmoil, people have lost their jobs and many promising investments have been put on hold or shelved,” he said. “Fast-tracking infrastructure projects-both public and private-is critical if we are to get the wheels of economic activity turning again.”
He said while the economy had suffered due to the pandemic, he was optimistic of growth. “It is vital that we do so to recover the jobs that have been lost during the pandemic and create new ones,” he said, adding that as much as the country needed foreign investment, local investors should take a lead.
President Ramaphosa earlier unveiled a nine-meter statue of OR Tambo in Kempton Park, where he mentioned that both events would attract tourists to the country.
“I do not doubt that having now opened your doors, you will soon be attracting business travellers, domestic travellers and residents of the city,” he said.