NW calls for partnerships to stimulate economic growth

Tuesday, March 12, 2013

Pretoria - Delivering a R28 billion provincial budget on Tuesday at the North West Legislature, the MEC for Finance Paul Sebegoe made a call for public private partnership to stimulate economic growth, create jobs and reduce unemployment.

Mining, agriculture and tourism form the bedrock of the province’s economy which is expected to grow on average by two percent in 2013. Mining in particular came under the spotlight in Sebegoe’s speech.

Sebegoe said there must be a collaborative effort between the public and private sector in order for the province to record economic growth in excess of five percent.

“We call upon the private sector in particular mining houses, banks and the academic institutions and broader private sector community to join hands with government in creating and building the economy which will assist us to overcome the current economic crisis.

“We are convinced as the government that contributions by the private sector will go a long way in creating much needed jobs whilst policy environment conducive for investment and private sector participation,” Sebegoe told the legislature.

He called on the mines to make provision and review their policies to ensure that a substantial part of their investment and procurement remains within the province to benefit local people. The mining sector accounts for 33.6 percent of the provinces GDP.

“Yet on average in excess of R366 billion procurement spent within the mining sector does not benefit the citizens of the province and this form of skewed investment must be reviewed to ensure that mining sector benefits local people in the province,” he said.

He further called on the mining sector to consider establishing mining supplier park in Bojanala district.

Sebegoe said the province has registered a downward trend in unemployment which dropped from 37 percent in 1996 to 31.5 percent in 2011. The trend can be attributed to increase in employment in the agricultural and manufacturing sectors. - SAnews.gov.za

 

 

 

 

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