TAU SA supports various countries’ concern over the threat the situation in South Africa holds for foreign investment.
The Sunday Times reported this past Sunday that embassies of the United States, United Kingdom, The Netherlands, Germany and Switzerland sent a memorandum relating to corruption, property right and the commitment to the rule of law and honest and ethical business practices in South Africa directly to President Cyril Ramaphosa.
Upon closer investigation it was found that the memorandum was actually a discussion document put together by these five countries (representing around 75% of foreign investment in the country) in June 2018. The countries warned Pres Ramaphosa that his foreign investment tours would suffer if the government’s policies and the rule of the law wasn’t applied stricter and more consistently in South Africa.
The memorandum states that these countries are concerned about the safety of foreign investment and property rights. It also refers to specific problems such as black economic empowerment requirements, intellectual property, continued changes to the mining manifest and property rights.
It is shocking that the Department of International Relations and Cooperation chose to focus on the wrong protocol followed instead of taking note of the serious concerns of these countries, after the report appeared on Sunday.
TAU SA, however, welcomes these countries’ support of South Africa as country safe for investments which upholds the rule of law. In the light of this, TAU SA will now launch a campaign to request other countries and international players to put further pressure on the government.
According to Louis Meintjies, President of TLU SA, the campaign stems from a decision of the ANC to follow a policy where land will be expropriated without compensation.
“It is a direct threat to the core principles of property rights,” he says.
TLU SA will follow this four-point strategy:
- TLU SA will fight land expropriation without compensation in the highest court;
- International liaison with the goal of putting pressure on the South African government;
- Improving and expanding the safety structures TLU SA have in place; and
- Mobilise the public, business sector and media to support our case and to put internal pressure on the government.
For media enquiries contact:
Louis Meintjies – President: TLU SA
Cell: 082 461 7262
Bennie van Zyl – General Manager: TLU SA
Cell: 082 466 4470