 [Business Insider SA] Foreign direct investment into South Africa grew from $1.3 billion in 2017 to $7.1 billion (R98.6 billion) in 2018 - an increase of 446% - a new United Nations report found.
In February 2018, newly elected president Cyril Ramaphosa said he aims to attract $100bn, or about R1.4 trillion, investment to South Africa by 2023.
The UN Conference on Trade and Development (UNCTAD) Global Investment Trends Monitor report, released on Monday, said South Africa successfully managed to turn around the sharp declines in FDI since 2014.
It said FDI investments were predominantly devoted to mining, petroleum refinery, food processing, information and communications technologies, and renewable energy.
Last year, China committed to R193 billion in new investments in South Africa. One of the biggest Chinese investments in South Africa was the recently-opened $840 million (R11 billion) BAIC vehicle plant at the Coega harbour.
Saudi Arabia said it would invest $10 billion - specifically in the energy sector, including building refineries, petrochemicals and renewable energy.
Among the companies that announced they would pump new money into South Africa, was Mercedes Benz, which said it would invest R10 billion.
Despite the increase in FDI, the World Bank expects that the South African economy will grow by a meagre 1.3% in 2019. 
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