Makhura wants province to lead the way in SA’s economic recovery
With South Africa finding itself in a technical recession shrouded by sovereign downgrades, Gauteng, as the country’s economic engine, needs to step up and take the lead in paving the way for the country’s economic recovery.
Gauteng Premier David Makhura, addressing delegates at the Gauteng Infrastructure Investment Conference, in Midrand, said Gauteng needed to urgently work to help the country lift its economic fortunes, adding that infrastructure development could provide the kick-start that was needed.
Over many years, infrastructure investment had played a major role as a stimulus for growth in many countries, he said; however, government, business and labour needed to work together to achieve success.
In line with this, in addition to the establishment of committees to tackle red tape and corruption, the provincial government was also working to deliver a range of provincial and municipal incentives aimed at attracting investment into Gauteng.
As part of Gauteng’s ambition to create a climate attractive to investors, the approved set of administrative and technical incentives being introduced was targeted at business expansion and retention, supporting research and development, exports and enterprise development, as well as attracting business into townships.
The incentives would be rolled out in line with the province’s economic development plan that focused on certain sectors along Gauteng’s five development corridors, including townships.
“If Gauteng works, 35% of South Africa’s economy will be working,” he said, pointing out that the “impact would be huge”.
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