As President Jacob Zuma celebrates his 75th birthday, The Presidency has taken stock of some of the progress made in the past year under his leadership.
“The list is not exhaustive but covers some of the achievements of the past financial year, which ended on 31 March 2017,” the Presidency said on Wednesday.
Economic transformation and reigniting growth and jobs
Progress was made in various programmes including energy, manufacturing, transport, telecommunications, water, tourism, the ocean economy, mining, agriculture, telecommunications, Industrial Policy Action Plan and managing workplace conflict.
“To actively ensure the ease of doing business in the country, the Inter-Ministerial Committee on Investment was established, chaired by the President, with the Deputy President and 18 Ministers as members.
“One of the key practical steps has been the establishment of the One Stop Shop or InvestSA initiative to remove obstacles to doing business in South Africa. The project, overseen by the IMC, works actively to assist potential investors to fast-track company registrations, water or energy licensing, environmental impact assessments, visa requirements and other imperatives. The programme will be rolled out in all provinces, removing the red tape in government that is impeding new investments,” the Presidency said.
Progress has been made in various focus areas, such as the following:
Significant strides were made to support the country’s manufacturing sector. During the 2015/16 financial year, the Department of Trade and Industry (dti), through its range of incentives, supported 1 770 companies, resulting in a total of R57 billion new investment made by the private sector and more than 80 000 jobs were supported.
In the first six months of the current financial year, the dti, through its incentives, leveraged more than R27 billion private sector investment, supporting just over 7 000 new jobs to be created. The dti’s Automotive Production and Development Programme has attracted automotive investments from across the world.
The Industrial Development Corporation last year approved R14.5 billion in new investment, the largest sum to date and 26% higher than the preceding year. Of particular note is the fact that this included R2.9 billion in transactions involving 54 black industrialists to broaden participation in the economy. Roughly R1 billion was approved for youth-owned enterprises, showing that SA is serious about implementing the Youth Employment Accord.
The Black Industrialists Programme was established to enable black industrialists to enter strategic and targeted industrial sectors and value chains. This project seeks to enable black empowerment beyond share ownership schemes to create a footprint of industries owned by black people.
So far, more than 27 black industrialists have been supported to the value of more than R1.5 billion, mainly in agro-processing; plastic and pharmaceuticals; electro technical equipment and metals sectors. More than 2 000 jobs were created across the sectors.
“The Special Economic Zones programme remains an important instrument to attract strategic foreign and domestic direct investment, build targeted industrial capabilities and also build new industrial hubs.
“Since the introduction of the programme, investments worth R41.2 billion have already been secured and the relevant projects are at various levels of implementation. Of these, R9.4 billion worth of investments are already in operation in the zones,” the Presidency said… Courtesy SAnews.gov.za