Economic development, trade department must lead initiatives – parliament committee
The department of economic development, trade and industry should be at the forefront of South Africa’s economic growth initiatives and encourage investment in sectors most likely to attract foreign investment, a parliament committee said on Wednesday.
The department should implement all its programmes in order to play a stimulus role for the economy, the chairperson of parliament's committee on trade and industry, economic development, small business development, tourism, employment and labour, Mandla Rayi said in a statement.
"It is critical that this department spearheads economic growth that will have a lasting impact on job creation,” Rayi said.
"Furthermore, it is critical that the department encourages investment in those sectors most likely to attract foreign direct investment, such as manufacturing."
The committee said the department had indicated that manufacturing was at the heart of its growth strategy, but persistent bottlenecks remained such as social inequality and the ease of doing business in South Africa.
“The economy needs to diversify and also prioritise exports. The economy cannot be a raw commodity-based economy longer than is required,” said Rayi.
He welcomed the department’s initiatives to expand the economy, including reviving industrial parks, various incentives programmes and moves to expand special economic zones.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation