SOUTH AFRICA’S PUBLIC-PRIVATE SECTOR PARTNERSHIP YIELDING RESULTS

South Africann Deputy President Cyril Ramaphosa says the public-private sector partnership which is being promoted is yielding positive results and will lead to economic growth and job creation.

Answering oral questions at the National Assembly here Wednesday, he added: “The government is working with its social partners on a range of measures to ensure that we have growth in our economy to create jobs and to promote an investor-friendly environment.

“Through these measures that we are undertaking, we are confident that we are able to significantly improve the investment climate in our country and to attract greater interest in our economy and we find this to be an ongoing process where many investors are gaining a lot of interest, largely because of the reform process that we are implementing …. with regards to implementing the nine point plan as well as ensuring that we create a really good climate for investment in our country.

“We are on our way to revamp business and economic processes in our country and I would like to say to people – watch this space, because we are going to transform this economy.”

Noting that South Africa’s economic fortunes were inextricably linked with those of the global economy, the government actively promoted itself and participated in platforms such as the Group of 20 (G20) developed and emerging economies, the International Monetary Fund, the World Trade Organization, BRICS and the World Economic Forum and it does so to seek solutions which are aimed at addressing South Africa’s weak economic growth.

Ramaphosa said the government has worked tirelessly to reduce the domestic constraints to foster growth through the implementation of the Nine-Point Plan, which prioritizes the stabilisation of South Africa’s electricity supply and also deals with issued related to labour relations.

“It also deals with matters of the environment and breaking regulatory barriers to investment. The Industrial Policy Action Plan seeks to re-industrialize our country to create decent jobs, localize technology development and boost exports. It is also promoting transformation through the Black Industrialist Programme, which is yielding really good results,” he said.

Source: NAM NEWS NETWORK

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