China-based electronics manufacturer, Hisense, has received funding from the department of trade and industry of R28 million, as the company’s export strategy will use South Africa to expand to Africa, leading to job-creation.
To effectively mitigate poverty, inequality and unemployment, South Africa needs to raise its level of economic growth and promote inclusive growth, said Minister of Trade and Industry, Dr Rob Davies, at the two-day Hisense Export Strategy Conference held in Cape Town last week.
Davies said government had come up with various instruments that would promote inclusive growth, pointing out that industrialisation and infrastructure development were critical elements of achieving this.
He further said that industrialisation was fundamental to South Africa’s development and it was imperative to move up the value chain.
“Infrastructure is necessary to support and underpin industrialisation. It can also be a basis to support industrial development, because infrastructure rollout programmes create demand for new factories,” added Davies.
He said that South Africa could learn from China by promoting domestic and foreign investment. Defending government’s policy on black industrialists, he said it was important for government to promote a much more inclusive pattern of economic growth.
The minister concluded that he was confident that South Africa had the capacity to produce quality products.
Foreign involvement set to boost job creation
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