SOUTH AFRICA otal
PARADISE -FOR . CAPITALISTS ©
In the United States, the Verwoerd government has vigorously publi- — cized investment opportunities in South Africa under its benevolent rule, stressing such attractions as low-cost labor, ease of withdrawing profits or capital from the country and the protection of a stable capitalistminded government, The package is a luring one for dollar-loaded free enterprisers scanning the foreign scene for areas in which a fast buck can be had without too great a risk,
That this advertising campaign has paid off handsomely is. show by a recent report in the Wall Street Journal from South African correspon= . dent Ray Vicker, He says that South Africa is drawing U.S. bankers, stockholders and businessmen in a most impressive way.
“otal Américan investments in South Africa are now estimated by pleased financial circles in Johannesburg. to be $600,000,000, an increase of twenty-five per cent in two years.
' Goodyear Tire and Rubber is spending $4,200,000 to expand 4 its ~ Uitenhage plant. by about thirty per cent. This will bring the _ company! s total investment in South Africa to nearly $17,000,000.
First National City Bank is planning to open a branch in Durbants new banking center in November, . This will give the Manhattan concern its third office in South Africa, © . - .
Lilly Laboratories is opening a 50, 000-square=foot plant at Isando,
Beckman Instruments has announced plans for a subsidiary in this inviting country.
At least five new chemical plants, costing more than $70,000,000, are either under construction or in the planning stage in the. Sasolburg. area of the Orange Free State,
The Palabora Mining Co, is “investing $100, 000,000 in a new copper mine which is expected to produce about 80,000 tons of blister copper annually starting in about three years,
Victor explains why American capitalists are finding South Africa to be so irresistible, It's not just Verwoerd's high-powered advertising. "American companies doing business in South African industry are averaging profits of 27 per cent on invested capital,"
Directeur-gérant: Pierre FRANK.