Economist: Tech sector to gain most from China investments
Economist Azar Jammine says South Africa's technology sector will benefit most from new investment deals with China.
"The manner in which foreign investment assists the country is because it brings new technology to the country and it enables the country's economy to keep up with modern trends. We have been sadly lacking in that respect for many years,” he says.
Jammine has been commenting on President Cyril Ramaphosa's remarks that more Chinese companies are interested in investing in the country.
Ramaphosa was speaking on Wednesday at the China-Africa Cooperation Summit in Beijing.
READ: China investing more in South Africa – Ramaphosa
He said this would boost the economy and create opportunities for both foreign and local investors.
Jammine agrees.
"China really has made really little investment in South Africa. In the last few years, the more civil ones have been on textiles, especially in the motor industry. But other than that, the level of investment has been somewhat disappointing.
"One would be very glad if we did see an increased level of investment given the size of the Chinese economy and the amount that they are investing in other countries."
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