A survey by the Foreign Direct Investment (FDI) Intelligence, a division of the Financial Times, has ranked Cape Town as one of the top cities worldwide in their Global Cities of the Future winners 2016/17 for FDI strategy.
Cape Town was ranked 21st and this makes it the only African city listed on the FDI ranking. Other cities ranked alongside Cape Town are Edinburgh, Hong Kong, and Chicago.
Executive Deputy Mayor, Alderman Ian Neilson said: ‘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.
‘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.
‘The City 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. Encouraging investment is one of the key features of our City development strategy”.
This ranking simply shows that Africa has a long way to go in attracting Foreign Direct Investment to the continent.
