https://www.engineeringnews.co.za

Manufacturing, economy need each other to grow

IN SYNC 
Greater alignment is needed between policy-makers and the private sector on how to keep manufacturing resilient

IN SYNC Greater alignment is needed between policy-makers and the private sector on how to keep manufacturing resilient

Photo by Duane Daws

26th June 2015

By: Sashnee Moodley

Senior Deputy Editor Polity and Multimedia

  

Font size: - +

Stronger alignment between policy-makers and the private sector was important, said the Manufacturing Circle earlier this month, citing research that showed the interdependence of a healthy South African economy and the manufacturing sector’s growth.

The organisation commissioned Pan-African Investment & Research Services to conduct research that proved a strong correlation between the country’s gross domestic product growth and manufacturing output from 1974 to 2014.

The Manufacturing Circle concluded that greater alignment was needed between policy- makers and the private sector on how to keep manufacturing resilient and create a positive policy environment to promote manufacturing growth.

This was not only related to the role of the Department of Trade and Industry, as alignment across government on governmentwide interventions to boost manufacturing was also important.

This included local procurement, which required alignment between the more than 2 000 procurement points across the different departments, spheres of government and State-owned entities; the promotion of fair trade, which demanded alignment between trade policy, trade administration, customs and standards authorities; and ameliorating the negative impact of bunched-up administered cost increases in the economy, which required smart regulation aimed at efficiency and cost- effectiveness, as well environmental and social responsibility.

Given manufacturing’s strong multiplier effects, it was certain that, once such alignment was reached, manufacturing would pull ahead to drive growth in the country, rather than merely mirroring it, the Manufacturing Circle stated.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.11 0.172s - 142pq - 2rq
Subscribe Now