Pretoria - Deputy President Cyril Ramaphosa says government has an opportunity to rebuild Limpopo as a place of innovation, production and commerce.
He was addressing the Limpopo Provincial Economic Summit held in Polokwane on Friday.
“We have an opportunity to revive this region as the breadbasket of Africa by exploiting the full value chain of agriculture and agro-processing. Limpopo has great potential to become an industrial hub but to do so, we need to build partnerships with the private sector. We need to become an attractive destination for local and foreign investment. Good governance must be our creed.”
He said government must ensure that it uses its spending muscle to empower small businesses and not a select few individuals.
“We want a provincial administration that is efficient, clean and places a premium on excellent service. This province has extensive mineral resources. It has fertile soil and significant agricultural capabilities," he said.
The province lies between the industrial heartland of South Africa and the rest of the African continent. It has a unique opportunity to become a strategic export hub for Southern African road freight.
“We have not yet fully harnessed the economic potential of Musina, which is currently the busiest inland port on the African continent.
“We look to this summit to outline concrete action plans to strengthen the provincial growth points, including the Musina-Makhado Special Economic Zone (SEZ) development corridor. As indicated in the National Development Plan, we need to change the structure of our economy.”
Focus must be on beneficiating mineral resources, investing in manufacturing, improving technology and leveraging opportunities in processed agricultural goods.
The Deputy President also said there are major investment opportunities in automotive and electronics products that are easily exportable by road into the rest of the continent.
“Risks associated with manufacturing can be lessened by creating and sustaining our special economic zones. It is important that business and the private sector collaborate with the provincial government to develop new special economic zones and attract new inward investment.”
He called on the provincial government to continue to do its part to strengthen integration and implementation.
“We also need to examine how the province's growth drivers, such as mineral resources and energy, can be positioned to attain inclusive, sustainable economic development. Implementation of our industrial policy is paramount as it promotes labour absorbing sectors.
“We must diversify our industrial and services base. We must build sustainable export industries, and we must expand production in rural and agrarian communities,” said the Deputy President.
He called on all South African business leaders to renew their commitment to citizens by investing their talents and resources to eradicate the scourges of poverty, unemployment and inequality from our land. - SAnews.gov.za
