Trade, Industry and Competition Deputy Minister, Alexandra Abrahams, says localisation must be embraced as a national commitment to rebuild productive capacity, deepen value chains and ensure that economic growth translates into real opportunities for South Africans.
The Deputy Minister was addressing delegates on the first of the two-day Buy Local Summit & Expo hosted by Proudly South African at the Sandton Convention Centre, in Gauteng.
The annual event is aimed at promoting locally manufactured goods and services to create jobs, reduce unemployment, and stimulate the economy. The event attracted over 1 600 delegates among them exhibitors, government representatives, entrepreneurs, investors, and funders.
This year, the event shines the spotlight on the adverse impact of illicit trade, the effect of the turbulent international geopolitical environment, and the far-reaching impact of the exponential growth of offshore, e-commerce retailers on local industries.
In her remarks on Monday, Abrahams said supporting local is about enabling businesses to grow and promoting both sustainability and re-investment in South Africa, particularly local communities.
“The more we choose to support locally produced goods and services, the stronger our economy becomes. With that growth comes expanded opportunity, new enterprises, and more livelihoods sustained with dignity.
“We may not always see the immediate impact of cultivating a culture that is proudly South African. But if we get it right, the benefits will extend far beyond the present moment. The foundations we lay today will shape the opportunities available to the generations that follow. Future generations will feel the impact,” Abrahams said.
She further highlighted that the importance of recognising the distinction between supporting local industry, localisation, and protectionism.
“Supporting local production should not mean insulating our economy to the point where our industries lose the incentive to compete globally.
“South African products should succeed in international markets because they are innovative, reliable and of world class quality, not simply because they are shielded from competition. The objective of localisation is therefore not to create permanent protection, but to strengthen the conditions under which local firms can compete and grow,” she said.
The Deputy Minister reiterated the strategic national commitment to rebuild South Africa’s productive economy, restore industrial capability, and secure inclusive economic growth, noting that if government, business and consumers act with shared purpose, the choice to buy local will become a powerful engine for investment, jobs and long-term prosperity. – SAnews.gov.za
