Let entrepreneurs in and drop exchange controls – DA

The South African government must back-up its encouraging words on making it easier for entrepreneurs and foreign investors to move to the country, according to opposition finance spokesperson Tim Harris MP.

HumanIPO reported last week Home Affairs minister Naledi Pandor had discussed the need to allow more skilled workers and entrepreneurs to move to South Africa.

Reacting to Pandor’s speech, the Democratic Alliance’s (DA) Harris told HumanIPO: “We absolutely need to make it much easier for workers and entrepreneurs with scarce skills and capital to work in SA. I welcome the sentiments expressed by the Minister but we now need to see practical steps taken in this regard.”

“At the same time we need to loosen financial controls. This is not an either-or situation. We need to scrap the remaining exchange controls AND [sic] reform immigration.”

One of the biggest problems facing foreign entrepreneurs and investors looking to work in South Africa is the inclusion of intellectual property in the country’s strict exchange controls.

In 2011, there were 1,346 visas issued to entrepreneurs and the government believes it has increased this number, but wants to do more.

Alex Fraser, Silicon Cape chairman, told HumanIPO shortly after she was elected in December last year they would continue to work hard in lobbying the government to make it easier for foreign investors to work in South Africa.

Posted in: Policy

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