GABORONE, (Xinhua) --
Botswana’s President Mokgweetsi Masisi on Monday
announced that the southern African nation managed to attract
foreign direct investment worth 108.2 million U.S. dollars last
In his maiden State
of the Nation Address (SONA), Masisi said Botswana has
recognized investment promotion as the key economic growth and
job creation, as it leads to expansion of existing and
establishment of new industries.
According to Masisi,
Botswana has since embarked on a transformation agenda to lure
investors into the southern African country through a revamped
investment promotion drive which the president is leading.
Since ascending to
the presidency of the world’s largest producer of diamonds by
value, Masisi has been globetrotting alongside trade and
investment missions to ensure Botswana’s visibility and
positioning her, as an investment destination.
“We are building the
goodwill in the global village through Brand Botswana
initiatives including investment booths, marketing our arts and
culture, cuisine, dance and song,” said Masisi, adding that the
efforts have paid dividends in the last year.
“In the year
2017/18, through the Botswana Investment and Trade Centre (BITC),
the country generated an estimated 108.2 million U.S. dollars
(1.082 billion pula) worth of foreign direct investment,” said
Masisi said the new
investments made in the period under review resulted in the
creation of an additional 3,050 jobs thanks to FDI inflows into
Botswana is also working on stimulating domestic investment by
ensuring that the same red carpet in offer for FDI is available
for domestic investment.
are at an advanced stage to establish the Economic and
Investment Board, which the president shall chair and is
expected to be operational in 2019.