An equitable economy depends on team work, says Ramaphosa

2014-09-25 14:20

The government and social partners need to work together to ensure transformation continues, Deputy President Cyril Ramaphosa has said.

“Our capacity to transform the economy through legislation and spending alone is limited,” he said today at the annual conference of the Association of Black Securities and Investment Professionals.

“We need the agreement and active involvement of all social partners if we are to build a stronger, more equitable and more vibrant economy.”

The government needed to work towards radical economic transformation and the economy needed to reflect the country’s demography.

“Broad-based black economic development, skills development, supplier development and preferential procurement are parts of the package of measures we’ve employed over the past two decades to achieve this objective.”

What was needed was infrastructure investment, a lower regulatory burden on business, better education and skills training, youth development, harnessing of technology and innovation.

Resources for public employment programmes had been increased and special economic zones established in disadvantaged areas.

“And we have intensified our efforts to promote entrepreneurship through our allocations to the small enterprise development agency,” Ramaphosa said.

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