The Department of Trade, Industry and Competition (dtic) has unveiled plans to facilitate the creation of over 100 000 employment opportunities through various projects and programmes in the new financial year.
Among these “catalytic instruments” are Special Economic Zones (SEZ), various incentives, transformation programmes, exports and global business services.
This as the Minister of Trade, Industry and Competition Parks Tau and the department’s leadership on Tuesday tabled the Annual Performance Plan (APP) before the Portfolio Committee on Trade, Industry and Competition in Parliament.
He said the APP has its foundation on the key priorities of the 7th Administration as reflected in the Medium-Term Development Plan (MTDP) namely, inclusive growth and job creation, poverty reduction and tackling the high cost of living and build a capable, ethical and developmental state.
“This APP will outline our priorities for the coming financial year, including placing emphasis on our new industrial policy, our investment targets and our trade relations, emphasising implementation and moving from the foundation we built in the previous financial year,” Tau said.
Director-General Simphiwe Hamilton said through the Investment and Spatial Industrial Development programme, the department will intensify industrialisation efforts by revitalising Industrial Parks and gearing up SEZs to full operation with job creation being one of the key objectives.
“Within this programme, our target this financial year is to ensure 15 Industrial Parks are revitalised into competitive infrastructure platforms to support sector diversification in marginalised areas. We are also gearing to operationalise 10 of 12 Special Economic Zones,” Hamilton said.
He said through various incentive schemes of the department up to R4 billion will be disbursed to enterprises that comply with the latest Broad- Based Black Economic Empowerment Act.
Deputy Minister Zuko Godlimpi said the APP is anchored on one central task: to convert improving macroeconomic conditions into real industrial expansion, higher investment, sustainable jobs and deeper economic transformation.
“South Africa is entering a period where the foundations for growth are being rebuilt through greater stability in energy, logistics and fiscal conditions, and the responsibility of the dtic is to ensure that this momentum translates into productive sectors of the economy.
“Our focus in the year ahead is to deepen re-industrialisation, expand exports, strengthen investment mobilisation, and advance transformation through practical instruments that widen participation for Black-owned enterprises, SMMEs, women and young people,” Godlimpi said.
Deputy Minister Alexandra Abrahams added that the plan reflects a deliberate and necessary focus on enabling economic growth through investment, industrial expansion and enterprise development.
“The dtic's approach this year is therefore grounded in creating the conditions for businesses to grow, compete and employ more South Africans at scale.
“Sustained job creation will come from a stronger, more competitive economy, supported by practical policy interventions to advance the economy, improved coordination across government, and consistent implementation that translates commitments into measurable outcomes,” Abrahams said.
Another key priority is increasing investment into the South African economy through the Omnibus Industrial Development and Investment Acceleration Bill. The bill is aimed at accelerating industrial development and investment, creating an enabling environment, ease of doing business and reducing red tape. – SAnews.gov.za
