Trade and Industry Minister Rob Davies says government’s incentives have helped to leverage R57 billion in investments over the past year.
“…Across the Department of Trade and Industry’s (Dti) main incentive schemes, R57.1 billion in private-sector investment is being leveraged as a result of the Dti having provided incentive support during the last financial year of approximately R10 billion.
“This support is provided to a wide range of local and domestic companies, 1,770 in the last financial year,” he said.
“Industries that appeared to have no future and where assets were being run-down prior to being sold for scrap have been revitalised and long-term investments – including in machinery, people and skills – are being made which augur well for these industries’ future,” he said.
More focus on creating black industrialists
Minister Davies said the department would also focus on supporting qualifying black industrialists in the year ahead.
“We are receiving many messages of support from the private-sector and – increasingly – firm offers to collaborate and partner with Government to make the Black Industrialist Programme a success,” he said.
Localisation central to IPAP implementation
The Minister said the department would soon release the 8th iteration of its Industrial Policy Action Plan (IPAP) covering the period 2016/7-2018/9 in which local procurement was identified as crucial.
“I am happy to report that we are now beginning to see real impact of local procurement in a number of industries,” he said.
