MBOMBELA – The EFF wants more protection for infant industries. Mr Collen Sedibe, the party’s provincial leader questioned the premier in the legislature recently about how industry could drive development if start-ups were not protected.
Mr David Mabuza explained that the urgent need to modernise and industrialise the province’s economy lay at the heart of the government’s radical socio-economic agenda.
“Socio-economic challenges remain, despite the strides made to liberate them economically,” Mabuza said. “We are convinced that the failure to transform or change the structure of the provincial economy to reflect the country’s racial and gender demographics in both the ownership and participation pattern, is the core reason for poverty, inequality and unemployment continuing unabated.”
He said in practice this translated into promoting localisation, beneficiation, infrastructure development, skills development and entrepreneurship development.
Moreover, the province was working with the country’s biggest trading partner, China to identify areas of cooperation and expanding exports.
He added that investment in agricultural infrastructure, increased agricultural production and the promotion of export markets were key focal points of the programme. Yet, the department of agriculture had its budget reduced last week in the adjusted budget for the financial year.
Finance MEC Mr Eric Kholwane said in his speech that they were concerned that the sector was not developing to its full potential.
“Agriculture remains one of the key sectors that should contribute significantly to economic growth and job creation. As we strengthen efficiencies in the department, we will continue to focus on improving expenditure in key strategies and programmes aimed at developing the agricultural sector.”
Mabuza says special economic zones to be implemented within five years will promote export and manufacturing incentives. Industrial hubs are also to be established in the three districts to provide value-chain linkages with the special zones and assist industrialists.
The hubs are also to attract investors and incubate SMMEs and co-operatives to bring them into the mainstream, including linking entrepreneurs with funding through the Industrial Development Corporation, National Empowerment Fund, Small Enterprise Finance Agency and Small Enterprise Development Agency.
