SOUTH AFRICAN GOVT WORKING HARD TO BOOST ECONOMY, TRADE MINISTER ASSURES

South African Trade and Industry Minister Rob Davies has assured the business community that the government is working hard to boost the country’s economy.

Speaking at a breakfast session arranged by the American Chamber of Commerce here Tuesday, Davies said the Department of Trade and Industry was creating sector-specific programmes to ensure that it supported sectors such as rail and agro-processing.

He told the meeting that the newly launched eighth iteration of the Industrial Policy Action Plan (IPAP) highlighted the gas sector as one of the areas of focus for government, which presented a lot of opportunities.

“The Information Communication Technology (ICT) companies are also increasingly taking over, with a lot of young black business professionals in the area requiring skills development,” said Davies.

He assured businesses of the government’s support for foreign investment into South Africa although the entry of sub-standard goods into the country still posed a challenge.

Davies said the recent decision by Moody’s rating agency and confirmation by the International Monetary Fund (IMF) to retain South Africa’s credit rating came with the condition that the economy was expected to grow and become better by next year.

Davies said the government had moved forward despite the challenges and that this was the story that needed to be told.

The General Manager of HP South Africa, Thibault Dousson, echoed the Minister’s sentiments, saying that South Africa was doing better in the economic environment.

SOURCE: NAM NEWS NETWORK