Parliament welcomes investment bill

The committee is preparing to finalise the Promotion and Protection of Investment Bill which has been revised and re-introduced to parliament following concerns it would hamper investment.

Net foreign direct investment into South Africa was negative in 2014. 

This is something government has committed to changing. But, the jury is out as to whether the revised law will help or hinder this project.

Committee chairperson and ANC MP Joanmarie Fubbs says that the bill offers foreign investors sufficient protection but businesses is still not happy with the protection and believe that it still opens investors up to an uncertain business climate where government has an undefined right to regulate in the public interest. 

These sentiments will be among those presented to the committee during a week of public hearings that are scheduled to later this month.

(File photo: Gallo Images)