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Lindiwe Sisulu Meets With Investors To Grow UAE-South Africa Partnership

During her four-day visit to Dubai, Tourism Minister Lindiwe Sisulu met with potential investors in an effort to deepen the strategic partnership relationship between South Africa and the United Arab Emirates (UAE).

The Minister met with G Pennon, Chairman of SOBHA Group, a multinational real estate and construction group, His Highness Sheikh Ahmed Bin Saeed Al Makhtoum, Chairman of Emirates Group, His Highness Sheikh Ahmed Bin Saeed Al Makhtoum, CEO of Bin Otaiba Hotel Group, Khalaf Bin Ahmed Al Otaiba, and CEO of MILLAT Investments, Hamza Farooqui, over the course of the four days.

With total exports of R25.4 billion in 2018, the UAE is one of South Africa's most important Middle Eastern bilateral trading partners.

"What concerns potential investors is that South Africa's safety and security remains a barrier to long-term investments," the ministry said in a statement.

The National Tourism Sector Strategy and the Tourism Sector Recovery Plan aim to promote South Africa as a preferred tourism investment destination by highlighting areas of opportunity in major attractions, particularly in underdeveloped areas with significant tourism potential.

The tourism recovery plan aims to match specific tourism investment opportunities with potential financiers, contributing to the president's investment mobilisation campaign, which was launched in 2018 with the goal of generating around $ 100 billion (or 1,200 billion rand) in fixed investment over five years.

Bin Otaiba Hotels (BOH), according to the ministry, is one of the world's most diverse hotel platforms. The group owns the Radisson in Sandton and the Hyatt Regency in Rosebank, among other hotels in South Africa. Unfortunately, because to the COVID-19 pandemic and other local government causes, numerous BOH-owned hotels in South Africa have closed.

South Africa has signed a codeshare deal with Emirates airline, one of the world's major airline groups. The agreement allows the airline access to South Africa's local routes while also promoting the country on Emirates' global network.

"The airlift is a critical pillar for the resurgence of tourism in South Africa, therefore working with Emirates to help our recovery strategy is critical," Sisulu said.

Emirates' long-term strategy, according to Sheikh Ahmed Bin Saeed Al Makhtoum, is to expand tourism rather than relying primarily on passenger transit as it was previously. In the United Arab Emirates, India, Oman, Bahrain, Brunei, and Tanzania, the SOBHA group had different interests and investments. Pennon stated that land use planning has the ability to help South Africa expand its economy.

"If there are unconditional collaborations and he is eager to engage with South Africa," Farooqui said, the tourism industry may prosper.

Source :
Posted on :1/12/2022