-visiting businessman
A visiting South African businessman has told Stabroek Business that the economic success which South Africa continues to enjoy is attributable in large measure to the fact that the country has been able to deal successfully with its divisions, “including its political and cultural differences”, in a mature way.
“We have lived through difficult times both culturally and politically but we have managed to get through those times and this has enabled us to live in peace in South Africa and to move the economy forward for the benefit of all of the people there,” Managing Director of the Johannesburg-based company Romix told Stabroek Business in a recent exclusive interview.
Princeloo told Stabroek Business that South Africa’s “strong and vibrant private sector continued to benefit from a healthy research environment that was driven by the country’s Council for Scientific and Industrial Research (CSIS). He explained that the body worked with both the state and the private sector as well as with the country’s nine provincial governments and the local authorities. “That way, the CSIS has been able to influence research pursuits across the country,” Princeloo said. He said that the CSIS had supported his own company in the development of the Polymer technology which was now being applied in the road construction industry both in South Africa and in several other countries.
Asked to assess the impact of the current global economic and financial crisis on South Africa Princeloo said that while the crisis was global and was having its effect on the country, it had been “somewhat buffered” by the 2010 football World Cup finals scheduled to be held there. “Because of the magnitude of that event the infrastructure developments that are taking place in South Africa at this time are massive. What this has meant is that we have not, perhaps, been as hard hit as other countries though we have felt a slight pinch.”
Princeloo said that it was clear that the South African government was aware of the importance of investment in infrastructure, especially roads, in order to boost the economy. “Without doing so the country is likely to lag behind.”
Princeloo, a computer professional, told Stabroek Business that he was hoping to meet with local private sector officials during his visit here both to explore possible areas of private sector cooperation as well as to discuss new technologies that are available that can enhance private sector development and national development as a whole. “These technologies are both workable and sustainable and particularly in the context of developing countries, can help create a sound infrastructure at a much faster rate without breaking the country’s budget. You need infrastructure to build an economy. If you do not have infrastructure you do not have an economy,” Princeloo said.
