More Japanese firms investing in SA - trade department
16 Nov 2018 - by
The number of Japanese companies investing in South Africa had increased over the years while existing ones had expanded, the department of trade and industry has said.
The department's director-general, Lionel October, told a business meeting in Rosebank that Japan, one of the largest and most industrialised economies in the world, was traditionally one of South Africa’s key established trading partners.
“Japanese companies are also involved in skills development and their focus is on sustainable business models, hence, over the years we have seen an increase in the number of Japanese companies investing in South Africa and the expansion of existing ones,” October said.
Between January 2013 and October 2018, 20 companies from Japan invested in South Africa, injecting capital worth more than R13.3 billion.
The Japanese foreign affairs ministry says 282 of the Asian country's companies currently operate in South Africa, making it the 9th largest foreign investor.
Total trade between the two countries has been around R93 billion over the past five years, with South Africa enjoying a trade surplus.
By the end of 2017, Japan was South Africa’s third largest trading partner in the world after China and the United States of America.