Posted: July 23, 2019
Industrialisation and Transformation Will Drive the dti Work This Year – DG October
|The Director-General of the Department of Trade and Industry, Mr Lionel October says the department will dedicate most of its resources in the 2019-2020 financial year on industrialising and transforming the economy of the country. October was presenting the department’s annual performance plan for 2019-2020 to the Select Committee on Trade and Industry, Economic Development, Small Business Development, Tourism, Employment and Labour in Parliament, Cape Town.
“Our mandate as a department is to build a dynamic, industrial and globally competitive South African economy, characterised by inclusive growth and development, decent employment and equity, built on the full potential of all citizens. In line with this mandate, State of the Nation Address and our Budget Vote, Industrialisation and transformation will occupy the centre stage in our work during this financial,” said October.
He outlined key interventions aimed at facilitating the transformation of the economy in order to promote industrial development, investment, competitiveness and employment. These include growing the manufacturing sector to promote industrial development, job creation, investment and exports, promoting greater policy coherence and certainty and improving the ease of doing business and collaborating with social partners.
“We will also be increasing our efforts to expand the market for the country’s products, promote Africa integration and to position ourselves as an important player in the global economic world. To this end, we will strengthen our efforts to build mutually beneficial regional and global relations to advance South Africa’s trade, industrial policy and economic development objectives,” added October.
October announced that the department would be supporting more than 850 companies through its Export Marketing and Investment Assistance Scheme to assist companies seek export market for their value-added products. This effort will be supported by a series of export awareness workshops that will be held in all of the country’s provinces to prepare companies for the export market in order to increase the number of exporters in the country.