By Chris van Gass

The 2010 Soccer World Cup was an opportunity for SA to fast-track its ambitions to join the most successful and fastest-growing economies such as Brazil, Russia, India and China, Western Cape premier Ebrahim Rasool said on Tuesday.

Rasool spoke at a provincial conference, as well as at a business gathering, and said 2010 was an ideal opportunity for the soccer spectacular to be presented as an African world cup, with SA as an investment destination and a platform for investment into the rest of Africa.

He said SA was attractive for disposable capital, particularly from the Middle East, India and Pakistan, southeast Asia, China and Brazil, because it had a stable democracy, a recognised banking system and an internationally respected judicial legal system.

Rasool said that in terms of the latest Goldman Sachs world economic paper, China would overtake the US as the world's largest economy by 2039, with India third and Brazil fourth.

"What we're saying is that's where SA is tying its fortunes to, and what World Cup 2010 does is allows us the focus to bring together those factors that will make us part of the preferred emerging markets, while at the same time promoting investment into the rest of Africa," he said.

The "development cake" provided by 2010 was big enough for all and it was not the time for business in the province to be divided "into traditional camps", Rasool said.

The World Cup allowed SA and the province to fast-track projects such as the upgrading of the rail commuter system in Western Cape, improving facilities and building the stadium at Green Point, all of which would be legacies left to the province after 2010.

It had also provided synergies for development, such as the Victoria & Alfred Waterfront which was only 40% developed before its purchase by Dubai World. The new owners had spent another R7bn to develop the Waterfront to ensure it realised its investment by 2010.

Rasool said Western Cape had already proven that it was the "soft landing" for new investment in the rest of SA and further into Africa. Since Dubai World's initial investment it had purchased a second investment in SA and was scouting around in Mozambique and Tanzania.

Rasool said the link with Dubai had also resulted in a "coup" for the province with the government granting permission for a direct flight from Dubai to Cape Town, with the inaugural flight being announced "soon".

He said these synergies had also resulted in the investment value of the Somerset Hospital site, between the Waterfront and the new Green Point stadium, increasing from about R300m a few years ago to more than R1bn.

Business Day