Gauteng will focus on manufacturing to revive its industrialisation.
“While the orientation of the economy has shifted towards business and finance services, manufacturing still forms the cornerstone of the province’s plans to fight unemployment, poverty and inequality,” Gauteng MEC for Economic Development, Environment, Agriculture and Rural Development Lebogang Maile said.
He was addressing the Gauteng Industrialisation Forum (GIF), a coordinating body composed of state owned enterprises like Eskom, the Passenger Rail Agency of SA (Prasa), Industrial Development Corporation (IDC), Gauteng’s metros and district municipalities.
The manufacturing sector, MEC Maile said, was in need of serious intervention as it experienced a rapid decline from contributing 21% to Gauteng’s economy in 2008 to 11.7% in 2014.
The MEC said the province’s plans for reindustrialisation involved charting a new course and creating new knowledge-based and innovative industries.
ICT, agro-processing, pharmaceuticals and automotive manufacturing were some of the 11 sectors and sub-sectors earmarked for government intervention over the next few years.
“We are working around the clock to fix the issues that have a negative impact on our reputation and perceptions about doing business in Gauteng.
“The province is at aanced stages with plans to promote energy security and healthy energy mix in the province. Similarly, we are increasing investment in transport and logistics infrastructure and ICT,” MEC Maile said.
The province will make announcements about private sector led projects in the fields of renewable energy, automotive manufacturing and other projects that are linked to township economies.
The province will also host an Economic Infrastructure Investment Conference in March to coordinate public and private sector in energy, ICT, roads, transport and logistics. – SAnews.gov.za
Source : SAnews.gov.za