Favourable oil and energy prices, along with competitive communication costs make business operations easier, while a corporate tax rate of 28% compares favourably to similar emerging markets. Cost of business: The exchange rate in South Africa makes it an ideal location for foreigners to set up a business - and relocate.The World Economic Forum ranked South Africa 1st in its 2015-16 global Competitiveness Index, while the World Bank ranked it 82nd (out of 190) for Ease of Doing Business in 2018. Business environment: South AfricaРІР‚в„ўs Johannesburg Stock Exchange is ranked amongst the top 20 in the world, and has harmonised its listing processes with the London Stock Exchange.

Important initiatives like the National Development Plan, the New Growth Plan and the Industrial Policy Action Plan aim to stimulate growth, reduce unemployment and introduce investment into the business landscape. Economic policy: South Africa has been undergoing economic reform since the mid-nineties in an effort to reduce taxes and tariffs, narrow the deficit, and relax regulations on business.South Africa is a growing, promising market economy, with a variety of opportunities for investors: South Africa is a member of the United Nations and the African Union, and in 2018, was ranked 82 on the World BankРІР‚в„ўs Ease of Doing Business Survey. Tourism is also becoming an important sector in South Africa, supporting over 10.3% of the countryРІР‚в„ўs jobs. Key sectors of the South African economy are mining and agriculture, but emergent fields like manufacturing, real estate, pharmaceuticals, energy and financial services, are growing in significance. At the end of apartheid in 1991, reforms were introduced to reduce inflation and attract foreign investment - since then, South AfricaРІР‚в„ўs economy has grown in sophistication and strength to become the second-largest on the continent, tripling GDP to around $400 billion. A multicultural and multiethnic society, South Africa emerged from a colonial past to develop a strong regional economic presence. At the southern edge of continental Africa, South Africa is a country, rich in natural resources, and has long been considered an important international business destination.

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