Since 1994 there has been a focus on economic growth and transformation in South Africa. In terms of the Constitution of the Republic of South Africa, 1996, the South African government is required to promote social and economic development in South Africa by developing policies and legislation to support this mandate, on a national and provincial level.
The Department of Trade and Industry (DTI)
The DTI is the national investment and economic development arm of the South African government. The DTI's purpose is, inter alia, to increase foreign investment in South Africa through the promotion of investment, trade and enterprise development.
The DTI provides economic incentives to qualifying companies for various economic activities, such as manufacturing, business competitiveness, export development and market access, as well as foreign direct investment.
There are three broad categories of economic incentives:
- industrial development incentives;
- broadening participation incentives; and
- trade, export and investment incentives.
Provincial Promotional Agencies
The provincial promotional agencies in South Africa are as follows:
- Gauteng: Gauteng Growth and Development Agency;
- Western Cape: Western Cape Investment and Trade Promotion Agency;
- North West: Invest North West;
- Northern Cape: Northern Cape Economic and Development Agency; Mpumalanga: Mpumalanga Economic Growth Agency;
- Limpopo: Trade and Investment Limpopo;
- KwaZulu-Natal: Trade and Investment KwaZulu-Natal;
- Free State: Free State Development Corporation;and
- Eastern Cape: Eastern Cape Development Corporation;
Service offerings of the promotional agencies are as follows:
- hosting and co-ordinating foreign business delegations;
- assistance regarding company registrations, visas or work permits and tax;
- providing and disseminating market intelligence on sectoral and regional economic data;
- facilitating access to national and local government incentives;
- site identification and evaluation;
- matchmaking investors with businesses; and
- promotion of business events/exhibitions.
Dentons South Africa has special relationships with these promotional agencies and can facilitate engagement with them as may be required.
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