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This initiative is part of Ramaphosa's efforts to attract $ 100 billion in investment to stimulate the struggling economy
Saudi Crown Prince Mohammed bin Salman has promised to make an official visit Ramaphosa and the government ministers. nation. Diko explains that the projects will be presented at a summit on investment to be held this year.
"Most of these projects will be in the energy sector – including refineries, petrochemicals and renewables." during a one-day state visit to Saudi Arabia
he was scheduled to visit the United Arab Emirates, according to the presidency.
"The purpose of the state visit to the Kingdom of Saudi Arabia is to badess the status while focusing primarily on strengthening the economic links between Africa's North and South Africa. South and Saudi Arabia, including increasing foreign investment and diversifying trade relations. "
South Africa imports about 47% of its country as a strategic partner in the Middle East.
The country is also a major investor in South Africa, particularly in the field of renewable energies.
Total trade amounted to just over 55 billion rand. "The state visit will also be an opportunity for South Africa to strengthen its cooperation with Saudi Arabia in light of the country's new strategy for Africa." said the presidency.
The opportunity to discuss the next summit on investment and invite companies and governments of the two countries to the summit, "said Diko.
Ramaphosa promised to revive the Economy and repressing corruption since its accession to the presidency in February of the ANC in power last year.
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