The key to ensuring security of jobs lies in ensuring due diligence by those with the requisite authority.
The recent articles in the media, particularly the City Press – North West bonanza for Chinese – highlights one of the biggest challenges faced by recipients of inward Foreign Direct Investment (FDI). This has sparked the debate in the country about how do we ensure that those intended to benefit from socio economic activities actually do benefit?
South Africa (SA) has been categorised amongst the top African destination for inward FDI by project numbers, this following the recently announced results by foreign Direct Investment (fDi) Report (2016) on Global greenfield investment trends.
China is understood to be the largest single trading partner for Sub-Saharan Africa (SSA) including South Africa, according to the International Monetary Fund (IMF) report (2016).
In the third quarter of 2016 the country’s unemployment rate sat at 27.1 percent, reaching the highest unemployment rate since 2004. (Statsa)
Inward Foreign Direct Investment into South Africa is not only required to grow the economy but seeks to create much needed jobs that ultimately lead to improved living standards.
According to the Immigration Amendment Act, 2007 – no 3 of 2007, visitors are permitted to enter South Africa under strict provisions by the Department of Home Affairs and they are outlined below as follows:
- Applying for a Business Visa
- General Work Visa
- Intra – Company transfer.
In the act “intra – Company Transfer Work Permits” is a stipulated provision that seeks to guide companies with multinational origins. The act stipulates that – “multi-national companies may decide to transfer an existing employee from a foreign branch to a branch in South Africa. ”
The ACT further goes on to say “these employees must apply for intra-company transfer work permits. In such cases, no proof of steps taken to obtain the services of a South African citizen/permanent residence will be required.”
The transaction for employees of a multi-national company seemingly requiring ‘no proof of steps taken…’ nor an indication of the critical skills identified by the country does raise considerable red flags in ensuring it adheres with the critical skills list as outlined by the Department of Labour.
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