23 Oct 2023

Botswana remains steadfast to enhance socio-economic ties with South Korea in the quest to lure direct foreign investors.

Speaking during a courtesy call by the chairman of South Korean Chamber of Commerce and Industry, Mr Tony Chey, President Dr Mokgweetsi Masisi said Botswana had all the attributes that made it a perfect destination for Korean investors.

President Masisi said Botswana took pride in its history and reputation as a stable, peaceful and transparent country, thus providing a suitable environment for investors.

He highlighted the investment environment in Botswana, emphasising its profitability and the importance placed on safety, security and a functional justice system.

The President also emphasised the importance of building alliances in the trade and investment domain.

“The country’s geographical location in the region further places it as a link that investors can capitalise on to penetrate the regional market,” he said.

President Masisi said Botswana attached a lot of importance to its relationship with South Korea, a country which occupies a prominent place in global economic affairs.

Botswana notes with admiration South Korea’s relentless efforts in building a resilient manufacturing industry characterised by vibrant socio-economic progress that Botswana could benchmark on to diversify from dependency on minerals for economic growth, he said.

 “One of the key pillars in the two countries development trajectory entails continuously developing human capital. Therefore, Botswana notes with admiration how South Korea has managed to develop a dual system that promotes local brands and their contribution in the global market space,” said President Masisi.

He pointed that it was pleasing that the two countries continued to enjoy cordial bilateral relations and fruitful cooperation founded on genuine friendship and mutual respect despite their geographical distance as they shared interest of the socio-economic development for their citizenry.

He said the two countries’ socio-economic interests were premised on their shared values such as responsible and accountable governance, strengthening democratic institutions, respect for the rule of law as well as human rights and fundamental freedoms.

For his part, Mr Chey applauded Botswana for its economic transformation over the years, adding that it was on that background that the country was invited to attend the upcoming Korea-Africa Summit.

“Korea highly rates Botswana as a strategic development partner”, he said, adding that there was notable progress in advancing the two countries’ bilateral cooperation in some of the critical sectors. Ends