Parliament welcomes efforts to grow economy

Thursday, July 25, 2019

Parliament’s Select Committee on Trade and Industry, Economic Development, Small Business Development, Tourism, Employment and Labour has welcomed the Department of Trade and Industry’s efforts to expand the economy.

The committee on Wednesday welcomed the department’s efforts to revive industrial parks, the incentives programmes and expanding Special Economic Zones.

The dti tabled its annual performance plan before the National Council of Provinces’ select committee on Wednesday. The department told the committee that manufacturing is at the heart of its growth strategy, while also highlighting persistent bottlenecks such as social inequality and the ease of doing business in South Africa.

Committee chairperson Mandla Rayi said the dti should be at the forefront of South Africa’s economic growth initiatives.

“The dti should implement all its programmes in order to play the stimulus role South Africa’s economy needs. It is critical that this department spearheads economic growth that will have a lasting impact on job creation.”

Rayi underscored the importance of diversifying the economy. “The economy needs to diversify and also prioritise exports. The economy cannot be a raw commodity-based economy longer than is required.” -