Growth, development plans key to SA's success

Tuesday, May 29, 2012

Pretoria - The New Growth Path and National Development Plan remain important building blocks of South Africa, the ruling ANC and Business Unity South Africa (Busa) said on Monday.

President Jacob Zuma, who was accompanied by an ANC delegation composed of Chairperson Baleka Mbete, Secretary General Gwede Mantashe and Deputy Secretary General Thandi Modise, on Monday met with a Busa delegation including its President Futhi Mtoba, Vice Presidents Brenda Madumise and Michael Spicer and Deputy CEO Raymond Parsons.

"Both the New Growth Path and the National Development Plan were important building blocks to the achievement of a shared vision for South Africa and it was agreed that this would be further explored between the two organisations.

"It was agreed that the New Growth Path remained an important instrument to promote employment and growth in the South African economy," the two parties said in a joint statement.

The draft development plan was released in November 2011, with the deadline for comments and inputs to be made on the National Planning Commission's National Development Plan being extended to 30 May.

The plan aims to eliminate poverty and reduce inequity by 2030. The commission's Vision 2030 statement seeks to help the country reduce its high unemployment rate to 14% in 2030 by growing the economy by around 5% annually.

The meeting also discussed the advantages and disadvantages of a youth wage subsidy.

Additionally, the meeting received an update on the four signed accords that have so far emerged from the New Growth Path, namely the Education, Skills, Local Procurement and the Green Economy Accords.

"The major focus of the meeting was a discussion around the steps needed to make a success of the planned Presidential Infrastructure Summit ... It was agreed that large scale infrastructural development now needed to be urgently implemented, not only from an internal economic point of view, but also given the deteriorating global outlook.

"To this end, it was agreed that business should participate and play a positive role in planning and crafting of the arrangements for the summit," said the parties.

The meeting was held at Luthuli House in Johannesburg.

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