A WAIPA delegation consisting of CEO Bostjan Skalar and Deputy CEO Ismail Ersahin participated in the China International Fair for Investment and Trade (CIFIT) 2016. This large international gathering took place in Xiamen, China on September 8-9. Bostjan Skalar was invited to comment on the importance of Chinese investments for both China and Africa, during the High Level Forum on Investment in Africa.
According to recent research the foreign investment rate of return in Africa is higher than that of any other major developing area in the world. Bostjan Skalar stated that “by working to secure a solid base of critical raw materials, China strengthens its economy for decades to come.” FDI supports economic diversification in Africa. In turn, economic diversification is crucial in ensuring the continent is free from high unemployment rates, food shortages and widespread health problems. But of course, when investing in another country, in order to be successful a localization strategy is of the utmost importance. Skalar advised investors to take into account the company’s motives, the acquisition and development of Chinese and local talents, local regulations, the organizational strengths and a costs analysis.