Positive changes to the Promotion and Protection of Investment Bill still does not offer a guarantee against expropriation
29 July 2015
Changes in the Promotion and Protection of Investment Bill are clearly aimed at addressing fears of state interference but there is still more than enough reason for, in particular, foreign investors to be worried, Adv. Anton Alberts, the FF Plus’ parliamentary spokesperson on Trade and Industry says.
Adv. Alberts says an example is section 8 which only guarantees the security of investments in as far as there are sufficient resources and capabilities. That means that assets and investments are vulnerable if the South African Police Service (SAPS) isn’t capable of protecting it. This means that investors will be defenceless in the case of a failed state.
Section 8 of the Bill reads as follows:
‘Security of investment