The Government and Business Partnership has committed to working closely over the next three months to accelerate the implementation of key reforms and priority initiatives aimed at driving economic growth and job creation.
In a statement from the Presidency following a meeting of the partnership, led by President Cyril Ramaphosa, the need for expediting reforms and performance improvement was underscored.
"[This] is crucial to reducing the possible negative impact of the complex global and domestic environment, which continues to present substantial challenges and uncertainty.
“GDP growth projections for 2025 have been revised down, and current forecasts remain far below the minimum 3% required to create the level of jobs needed to make an impact on the country’s high levels of unemployment,” the statement read.
The Presidency highlighted that the strength of the Government-Business Partnership has given rise to the unlocking of “many constraints that undermine growth and job creation”.
“While there is much to improve, the dedication and commitment from both government and business remains undiminished. The pace of our work must increase to match the scale of the challenge,” President Ramaphosa said.
PHOTOS | Government-Business Partnership meeting
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Adrian Gore, BUSA Vice President and business co-convenor of the partnership, said: “We are entering this accelerated execution sprint with a real sense of urgency.
“Progress has been made, but it’s not enough. This requires a step change in the pace of decision making and execution.
“We need to redouble our collective efforts to help shift the country onto a sustained upward trajectory and deliver on our shared ambition of a virtuous cycle of growth, jobs, a more positive narrative and increased investment.”
Improving Eskom’s performance will remain in focus, while work at Transnet is aimed at increasing exports and revenue collection to support employment growth and the economy.
“Important progress has been made to lay the groundwork for sustained accelerated action, including the finalisation of the Transnet Network Statement, the launch of a Request for Information to attract private investment in port and rail infrastructure, and NERSA’s approval of electricity wheeling regulations.
“These reforms enable broader private sector participation in energy and transportation and logistics. Both the crime and corruption and the youth employment focal areas are largely tracking against their plans, which have a longer-term time horizon,” the Presidency said. – SAnews.gov.za
