Ramaphosa highlights role of small business in growth, job creation
The Gauteng provincial government has seen that inclusive growth can only be realised if there is a partnership and collaboration between government, labour and business, Deputy President Cyril Ramaphosa said at a recent conference in the province. He added that collaboration between all stakeholders had put the province on a new economic growth path, with Gauteng generating more than 34% of South Africa’s gross domestic product.
Small business was a key driver of growth and job creation and Gauteng had become the centre of the revitalisation of the township economy. “It was in Gauteng where the notion of the township economy had gained traction. Townships are becoming an area of focus for government, and it is [mainly] happening in Gauteng,” noted Ramaphosa.
He also stressed the importance of creating jobs for the youth of Gauteng and the rest of the country through investing in infrastructure.
“Not only do these investments create work opportunities, they also reduce the cost of doing business and [bring about] faster economic growth,” he said.
Ramaphosa stated that infrastructure development was key to meeting National Development Plan (NDP) goals, noting that the NDP was the most important tool the country had to tackle unemployment and poverty.
He added that the NDP called for support for those economic sectors with the potential to create many jobs.
“These sectors include mining, agriculture, manufacturing, tourism and the green economy,” he noted.
Ramaphosa assured the country that government was committed to supporting the domestic manufacturing and supplier base through measures such as the Industrial Policy Action Plan.
“While it is essential that government creates a conducive environment for business, there is much more that government can do to provide direct support for key sectors,” he said.
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