2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • Lifestyle & Hospitality
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • China Agrees R19 Billion SA Investment, Dalai Lama Probably Not Coming

    29 Sep 2011 by Jasmine Stone in Business, Culture, Dalai Lama, Finance, Money, Politics, World
    Related Posts

      Deputy President Kgalema Motlanthe has today told a small news conference that China has agreed to invest approximately R19 billion in investment projects around South Africa. He’s been on a three-day visit to China, and has avoided all mention of the constant South African headache that is deciding whether the Dalai Lama should get a visa or not.

      Speaking to attendees of the news conference, Motlanthe clarified that nothing other than the financial side of things had really been agreed upon as yet:

      This financial cooperation agreement is between development banks and the specific projects in which they are going to invest, they still have to identify these projects.

      The two banks, the Development Bank of South Africa and China Development Bank, will work together to decide on strategic investment opportunities and the two countries have also signed a memorandum of understanding on “geology and mineral resources”.

      Currently, South Africa exports about R43 billion a year in minerals to China and the new projects will be designed to “strike a healthy balance” in trade volume between the two countries.

      The mining and mineral sectors have long been plagued by the problem of exporting too many of our resources for manufacturing overseas and this is something Motlanthe hopes the new deal will help rectify:

      To that end, the difference is, instead of just exporting these minerals as raw materials, there will be … value add to create jobs on both sides.

      Motlanthe has made it clear that his visit to China, which included a meeting with China’s Vice President Xi Jinping and one with President Hu Jintao tomorrow, is about strengthening economic ties between the two nations.

      China repeatedly warns other countries not to receive the Dalai Lama and one hopes Desmond Tutu will still be given the opportunity to celebrate his 80th the way he wants to – with the Dalai Lama in attendance.

      [Source: Fin24]

      • ← A Pill That Makes You Sober – R.I.P Beer Goggles
      • Friday Morning Spice →
      • Tweet
      • Tags:
      • huge chinese investment

      Latest News

      • Watch Biden’s Inauguration Here (And Get Half-Price Pizza And Free Ice Lollies)

        [imagesource: Getty Images] Well, today’s a pretty exciting day for a lot of people -...

      • Viral Video Shows Worcester Cop Beating Man With Sjambok

        Three SAPS officers are under investigation after video footage emerged of them assaulting...

      • Jabs, Jets, And Luxury Accommodation: The Super-Rich Are Taking ‘Vaccine Vacations’

        [imagesource: Getty] When it was first announced that viable COVID-19 vaccines were sho...

      • Facebook Group Tracks The Movements Of Notorious Cape Town Scammers

        [imagesource: Facebook / Where's the Kumars?] Most humans are good people, so when you ...

      • How To Buy Calvin Klein Underwear In South Africa

        [imagesource:here] I’ve always had a bit of a problem, when it comes to my underwear....


      • 2oceansvibe Partners

      • CONTACT US
      • GOT A HOT STORY?
      • 2oceansvibe Radio
      • 2oceansvibe Media
      • Media Pack
      • Seth Rotherham
      • Café du Cap
      • Cabine du Cap
      • Cape Town City Accommodation
      • Terms & Conditions
      • Business
      • Media
      • Entertainment
      • Tech/Sci
      • World
      • Travel
      • Lifestyle
      • Sport
      • Politics
    • Follow

      2oceansvibe.com is part of the 2oceansVibe Media Group

      DMMA Logo