The Diplomatic Society

 
  • Increase font size
  • Default font size
  • Decrease font size
Structural change needed in SA economy
 
7 April 2014

Johannesburg - The South African economy needs to undergo a significant structural change if it is to create jobs and employment, Trade and Industry Minister Dr Rob Davies said on Monday.
The minister was speaking at the launch of the sixth iteration of the Industrial Policy Action Plan (IPAP) in Johannesburg.
“Most of the document is an action plan, not a vision document or some kind of wish list or statement. It’s a set of time bound actions and responsibilities. It’s a programme of the work of government,” said the minister.
In the past, said the minister, the South African economy emerged with the discovery of mining, with manufacturing quite fragile.
IPAP includes plans to promote industrial growth and reduce unemployment.
The plan’s overarching vision of growth with inclusivity is grounded in the imperative of smart re-industrialisation, with a focus on growing the country’s manufacturing sector.
The 2014/15 - 2016/17 document’s mission is to push the country’s potential for industrial step change to greater intensity with infrastructure development and localisation, beneficiation, a sharper focus on regional integration and enhanced industrial financing.
The IPAP’s central focus on manufacturing is derived from thorough analysis and has the highest economic and employment multipliers. The plan is central to South Africa’s export strategy and it plays a critical and indispensable role as a driver of innovation and productivity growth.
South Africa is faced with a challenge of unemployment, with the world now requiring post-school education for jobs.
“Industrialisation is critical to this. It’s not just critical to SA but critical to the future of the African continent.
“If Africa has enjoyed a growth spurt up to now, it is not going to sustain this, unless we move up the value chain and start producing value-added products,” Minister Davies said.
He said the production and manufacturing of value-added products was a significant generator of jobs - not just for the manufacturing sector itself, but also for up-streaming and down-streaming industries.
Growing industry
The country’s massive infrastructure programme is a critical tool to industrial development.
“The programme is fundamental and has to continue to be a major driver of industrial development … it also has to be a tool of industrial development,” Minister Davies said.
South Africa needed to create black industrialists, with the minister saying that there were far too few black industrialists.
“We need to draw more on the talents of our population,” he said.
Also speaking at the last IPAP launch, under the current administration, divisional executive at the Industrial Development Corporation Shakeel Meer said the core of the South African economy should be manufacturing. – SAnews.gov.za

 


 
 
 
 
 
 
 
 
_________________________________________________

Nov/Dec 2017 Edition

 
 
_________________________________________________

Translater


 
 

 
 
 
 

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 

President Jacob Zuma hosts Madagascar President Rajaonarimampianina 1 November 2017 President Jacob Zuma in his capacity as the Chairperson of SADC has met with the President of the Republic of... <|> South Africa and Comoros meeting 6 November 2017 South African Minister of International Relations and Cooperation Ms Maite Nkoana-Mashabane met with Comoros Foreign Minister Mohamed El-Amine... <|> SA boosts trade with Cuba 7 November 2017 The Havana International Fair will further advance relations between South Africa and Cuba, says Trade and Industry Deputy Minister Bulelani... <|> Cooking Sri Lankan cuisine 7 November 2017 On 27 October Champa Weerasekara, spouse of the Sri Lankan High Commissioner in Pretoria hosted a cooking demonstration and luncheon at her official... <|> Easing travel regulations between South Africa and Kenya 3 May 2016 South Africa and Kenya have announced measures that will make travelling between the two countries easier. South African Home... <|> Algeria National Day 1 November 2017 Ambassador Abd-El-Naceur Belaid of Algeria hosted a reception to celebrate the 63rd Anniversary of the launching of the Algerian Revolution. He said that it was... <|> Zambia Independence Day 25 October, 2017 Zambia says her democratic credentials have remained admirable since the introduction of multi-party democracy. Zambia’s High Commissioner to... <|>   Successor Ante Portas? 14 December 2017 When recently surfing along the internet in research mode I stumbled across two items – not connected to each other at first glance. On... <|> Commemorating the 160th anniversary of Joseph Conrad Korzeniowski 20 November 2017 The Embassy of the Republic of Poland in Pretoria organized a special screening of the Polish – British film... <|> <|>
© copyright 2011-2017| The Diplomatic Society| All Rights Reserved.