Trade, Industry and Economic Development Minister, Ebrahim Patel has told Parliament that partnerships with the private sector is critical as the sector drives the bulk of economic activity in South Africa.
Patel and his department appeared before the Trade and Industry Portfolio Committee in Parliament to outline the department’s strategic plan.
“Partnership with the private sector is important because the bulk of economic activities in South Africa are driven by the private sector. And so, a smart industrial policy is about increasing private investment.
“But it’s also a partnership with workers. Workers are fundamental to ensuring that we make the transition to a more dynamic economy and a higher producing economy, both in the contribution of workers in the process and in ensuring that the results of growth are fairly and equitably distributed, so that we built really a deep commitment among everybody in the economy to the same goals,” Minister Patel emphasises.