Successful economic development programmes seek to balance the building of the local economy and positive business environment with elements that make a community a good place to work and live in.
So what is the role of our country’s nine provinces in the government’s proposed radical economic transformation programmes?
The role of the provincial government is to work with businesses, unions, workers and communities to improve the ability of businesses to take advantage of opportunities, boost our economy’s productivity and competitiveness and eventually tackle the three burdens of poverty, unemployment and inequality.
The Eastern Cape government supports businesses and industries with the focus on opportunities for jobs growth and economic development. Our policies are looking to the future, not the past.
To boost the national radical economic transformation agenda, we have a comprehensive productivity agenda focused on investing in economic infrastructure, skills, training and education, supporting industries and firms to become more innovative.
Boosting productivity and competitiveness is the common thread running through our government initiatives ranging from the broadband network to our investments in transport infrastructure and our education and skills development programmes.
The broadband network delivers high-speed internet services to businesses and households, improving productivity and creating new business opportunities.
Our investment in modernising our roads, rail, public transport and port infrastructure allows businesses to get their products to customers faster and more reliably.
As elected officials and provincial policy-makers, our job is to design and maintain processes that create a dynamic, business-friendly environment and a desirable quality of life to attract new companies to our communities and keep them there to grow, create jobs, pay salaries and generate tax revenue.
It is this business growth that allows provinces and municipalities to fund essential community services such as infrastructure maintenance and expansion, schools and public safety services. Quality public services improve the overall business and living environment, which in turn attract more revenue producing growth and expansion, thus ushering in economic development.
The relationship between the provincial government and business is symbiotic. We need a vibrant and strong business community to provide the basis for jobs, salaries and tax revenues for the provincial economy.
On the other hand, business needs supportive government to provide the community services that encourage business to grow and prosper. Neither can survive for long without the other.
Also, as a province, we need to understand our assets. So what are assets? The Merriam-Webster Dictionary defines assets as “The qualities or things that can be used to advantage.”
For me, provincial assets are the things that set one community, municipality and province apart from other communities, municipalities and provinces. To be competitive in attracting customers or investors, our province understands its position in the marketplace through assets.
You may ask, so what are our assets? They can be found in our provincial economic development strategy. The strategy is based on six economic sectors on which the province has a comparative advantage: agricultural development, the oceans economy, tourism, renewable energy, light manufacturing and the automotive industry.
Just a brief illustration of our contribution to economic transformation, our Industrial Development Zones (IDZs) and state owned entities (SOEs), have among themselves signed new significant investment deals, promoted trade exports and funded new businesses.
The IDZs have attracted invest- ment in the agro-processing, automotive, aquaculture, energy, metals logistics and business process services sectors. This has advanced socioeconomic development in the Eastern Cape through skills development, technology transfer and job creation.
Moving forward, we are consolidating our IDZs to achieve synergies and efficiencies. To this end, a new Special Economic Zones Act has been passed with a view to expanding the strategic industrialisation focus and to cover diverse regional development needs and contexts.
As enablers we are determined to ensure we continue to strive to deliver sound infrastructure, sustainable water and energy sources, as well as efficient movement of goods and services.
There is cause for optimism, not gloom. As we go through this period of economic transformation, I ask you to keep sight of the opportunities in our province and the policies that will help realise them.
Phumulo Masualle is premier of the Eastern Cape
Premier's Perspective: Unique opportunities on offer
So what is the role of our country’s nine provinces in the government’s proposed radical economic transformation programmes?
The role of the provincial government is to work with businesses, unions, workers and communities to improve the ability of businesses to take advantage of opportunities, boost our economy’s productivity and competitiveness and eventually tackle the three burdens of poverty, unemployment and inequality.
The Eastern Cape government supports businesses and industries with the focus on opportunities for jobs growth and economic development. Our policies are looking to the future, not the past.
To boost the national radical economic transformation agenda, we have a comprehensive productivity agenda focused on investing in economic infrastructure, skills, training and education, supporting industries and firms to become more innovative.
Boosting productivity and competitiveness is the common thread running through our government initiatives ranging from the broadband network to our investments in transport infrastructure and our education and skills development programmes.
The broadband network delivers high-speed internet services to businesses and households, improving productivity and creating new business opportunities.
Our investment in modernising our roads, rail, public transport and port infrastructure allows businesses to get their products to customers faster and more reliably.
As elected officials and provincial policy-makers, our job is to design and maintain processes that create a dynamic, business-friendly environment and a desirable quality of life to attract new companies to our communities and keep them there to grow, create jobs, pay salaries and generate tax revenue.
It is this business growth that allows provinces and municipalities to fund essential community services such as infrastructure maintenance and expansion, schools and public safety services. Quality public services improve the overall business and living environment, which in turn attract more revenue producing growth and expansion, thus ushering in economic development.
The relationship between the provincial government and business is symbiotic. We need a vibrant and strong business community to provide the basis for jobs, salaries and tax revenues for the provincial economy.
On the other hand, business needs supportive government to provide the community services that encourage business to grow and prosper. Neither can survive for long without the other.
Also, as a province, we need to understand our assets. So what are assets? The Merriam-Webster Dictionary defines assets as “The qualities or things that can be used to advantage.”
For me, provincial assets are the things that set one community, municipality and province apart from other communities, municipalities and provinces. To be competitive in attracting customers or investors, our province understands its position in the marketplace through assets.
You may ask, so what are our assets? They can be found in our provincial economic development strategy. The strategy is based on six economic sectors on which the province has a comparative advantage: agricultural development, the oceans economy, tourism, renewable energy, light manufacturing and the automotive industry.
Just a brief illustration of our contribution to economic transformation, our Industrial Development Zones (IDZs) and state owned entities (SOEs), have among themselves signed new significant investment deals, promoted trade exports and funded new businesses.
The IDZs have attracted invest- ment in the agro-processing, automotive, aquaculture, energy, metals logistics and business process services sectors. This has advanced socioeconomic development in the Eastern Cape through skills development, technology transfer and job creation.
Moving forward, we are consolidating our IDZs to achieve synergies and efficiencies. To this end, a new Special Economic Zones Act has been passed with a view to expanding the strategic industrialisation focus and to cover diverse regional development needs and contexts.
As enablers we are determined to ensure we continue to strive to deliver sound infrastructure, sustainable water and energy sources, as well as efficient movement of goods and services.
There is cause for optimism, not gloom. As we go through this period of economic transformation, I ask you to keep sight of the opportunities in our province and the policies that will help realise them.
Phumulo Masualle is premier of the Eastern Cape
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