Cape Town has been ranked 21st globally for its foreign direct investment (FDI) strategy, the only African city to make the list.
The Global Cities of the Future ranking is published each year by Foreign Direct Investment (fDi) Intelligence, a division of the Financial Times.
Cape Town is the only African city listed in this category by fDi Intelligence, with other listed cities including Edinburgh, Hong Kong and Chicago.
“This accolade is indeed a massive feather in Cape Town’s cap as it recognises all the ongoing efforts being made by the City and its private sector partners to ensure that Cape Town is on the international map for business and investment,” said the City’s executive deputy mayor, Alderman Ian Neilson.
“Attracting investment has been part of our strategy since 2006 where we set out to engage with the international community to promote Cape Town as an ideal place to invest in so that we can create much-needed jobs for our people.”
Neilson said the City of Cape Town contributes to economic growth by providing stable governance, clear policy direction, delivery of infrastructure, support services, investment promotion, facilitation, economic research and striving to reduce the administrative burden of doing business.
He said the launch of Invest Cape Town, an initiative aimed at sharing the economic successes and attractiveness of Cape Town as a globally competitive business destination with the world, had paid off.
“Encouraging investment and development is one of the key features of our City development strategy,” he said.
“This strategy is beginning to pay off, with a number of companies setting up their headquarters in Cape Town. Cape Town is home to most South African retail giant headquarters and investment houses. We are the green hub of Africa, accounting for most of the local manufacturing for the national renewable energy programme.”