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French.china.org.cn | Updated on 14-07-2018
In his campaign to attract investment in the Middle East, South African President Cyril Ramaphosa received $ 10 billion worth of investment from Saudi Arabia, said Friday the presidency.
These investments will mainly go through the energy sector, to strengthen energy security, build capacity and reduce costs in South Africa, said presidential spokesman, Khusela Diko, when Ramaphosa concluded his one-day visit to Saudi Arabia to visit the United Arab Emirates
These pledges for investment were one of the most important highlights of Ramaphosa's visit. According to the spokesman.
"This commitment of the (Saudi) kingdom demonstrates its confidence in our economy and provides an additional boost to the campaign of South Africa to raise $ 100 billion new investments over the next few years to create jobs and development, "said Mr. Diko, citing Ramaphosa.
Earlier in the year, Ramaphosa announced a plan to attract $ 100 billion in strange investments over a five-year period. In April, he appointed a team of special envoys to launch a charm offensive around the world to attract investment.
Ramaphosa's visit to the Middle East is seen as an effort by the South to increase oil imports as fuel prices hit a record high in South Africa, raising dissatisfaction among South Africans.
In early July, Ramaphosa said his government was actively seeking ways to reduce oil prices. mitigate the impact of recent increases in fuel prices on the consumer portfolio
South Africa imports about 47% of its oil from Saudi Arabia and considers Saudi Arabia a strategic partner in the Middle East. F
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