Industrial policy framework focuses on manufacturing

The Gauteng Economic Development Agency (Geda) is determined to stimulate the economy of the province and recently developed an industrial policy framework to focus on manufacturing in critical sectors of the economy to ensure that the province’s economy grows and creates decent employment. But, said Geda spokesman Barba Gaoganediwe, the shortage of funding and insufficient technical know-how limit the ability of the province to expand and transform the economy. “These investment challenges occur against the backdrop of high unemployment and continuous job losses with Gauteng bleeding mainly in the manufacturing, construction and services sectors.” Geda, which is mandated to develop and ensure the economic growth of Gauteng, has therefore embarked on massive marketing and branding campaigns of not just products but also efforts to diversify the province’s export offerings. “It is imperative for Gauteng to target critical sectors of the economy to ensure that investment responds to the challenges of unemployment, economic growth and that the province still remains the preferred investment and trade destination in Africa,” Gaoganediwe said.