Posted by: africanpressorganization | 29 August 2008

South Africa / President Mbeki chairs BUSA working group meeting



South Africa /
President Mbeki chairs BUSA working group meeting


PRETORIA, South Africa, August 29, 2008/African Press Organization (APO)/ — President Thabo Mbeki today met with the Business Unity South Africa Presidential Working Group at the Union Buildings, Pretoria; Tshwane.


Government presented an outlook of the economy in the coming years. The presentation noted, amongst others, the creation of almost two million jobs since 2002, improved levels of fixed investment as a critical driver to future economic growth, low levels of domestic savings, slowing household borrowing and other dynamics in the macroeconomic environment.


For its part, BUSA noted that the country needed to focus on critical sectors in order to speed up economic growth and job creation. These included mining, manufacturing and agriculture.


BUSA expressed commitment to growing Small Medium and Micro Enterprises (SMMEs) as a key driver to economic growth and job creation. In the view of BUSA, preferential procurement, enterprise development and the industrial policy action plan provide the best platform for the creation of sustainable SMMEs and broad-based black economic empowerment. In this regard, BUSA proposes that more incentive mechanisms should be designed to further reward companies that create and grow sustainable enterprises.


Government also briefed the BUSA delegation on the ongoing SADC-mandated facilitation process in which President Mbeki is engaged. BUSA welcomed the recently signed Memorandum of Understanding between the political parties in Zimbabwe and expressed willingness to work with their counterparts in that country to contribute to its economic revitalisation. Both government and BUSA were agreed that a political solution must be found as soon as possible to create the possibility for the socio-economic upliftment of Zimbabwe.


Lastly, government presented the resolutions of the recently held Anti-Corruption Summit which covered ethical practices in social and economic life, strengthening accountability, co-ordiantion and oversight and access to services through participatory governance. (The entire set of resolutions can be sought from the Department of Public Service and Administration)




SOURCE : Business Unity South Africa


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