Director General of the Department of Planning, Monitoring and Evaluation
Leaders of business affiliated to the Public Private Growth Initiative (PPGI)
Senior government officials
Members of the media
Thank you for attending this briefing, which is the manifestation of a solid partnership between the South African government and the business sector. We convene this media briefing under the auspices of the Public-Private Growth Initiative (PPGI).
This partnership between government and business leaders is critical for the growth of our economy, human development, job creation and eradication of poverty and inequality. The collaboration between the public and private sector will assist in realising the developmental objectives as set out in the National Development Plan (NDP) and will also contribute towards the fulfilment of our international obligations as stated in the Sustainable Development Goals (SDG) and Agenda 2063.
The purpose of the Public Private Growth Initiative is to promote rapid growth in the South African economy, to rebuild and strengthen a relationship of trust and cooperation between the public and private sector and to spur private sectors to organize and engage and focus their engagement with appropriate and relevant government departments.
We are of the view that we can only be able to change the reality of the people on the ground if we continue to work together as a nation and contribute in building a truly prosperous South Africa. We are enthused that leaders in government and business convened under the PPGI have responded to the call by the President to contribute in growing the South African economy. We also acknowledge and realise that the achievement of the developmental objectives of our country can be accelerated through building a sound partnership between all stakeholders in society.
This collaboration with the private sector happens at an opportune moment in history of our democratic society. It coincides with the development of our NDP Five Year Implementation plan for the period 2019-2024. We, therefore welcome the commitment of business leaders to develop five year sectoral implementation plans, which will form part of our five year country plan.
If we plan together, we will grow together. The more successful businesses we have, the better the economic standing of South Africa in the world. The nexus between government and business will grow our economy exponentially and propel our country forward.
We also want to ensure that the plans are evidence-based and project ready to ensure effective implementation. Through this initiative, we want to ensure that all the plans take into consideration growth, employment, skills, investment and transformation. The plans will also identify and remove inhibitors that hinder implementation of projects. We are committed in working together to remove these challenges.
Our assessment is that this partnership has a potential to unlock investment of at least R500bn and that a 5% economic growth is possible, provided certain enablers for the economy are realised, and key inhibitors are eliminated.
We also expect that the proposed five-year implementation plans will advance the transformation agenda, broaden the participation of women, contribute in skills development and create opportunities for young people.
A number of consultation sessions were held to ensure that the objectives of the PPGI are realised. We are pleased to announce that 24 sectors are participating in the PPGI with full support of the firms in each sector. These sectors include Automotive, Agriculture, Tourism, Manufacturing, Forestry, Mining, ICT, Aerospace, Business Services, Construction, Health, Pharmaceuticals, Chemicals Insurance, Renewables, Gas and Oil, Wind, Retail, Professional Services, Banking, Small Business, Transport, Defence Industry and the Water Economy.
To date the PPGI have identified 18 proposed projects in the forestry, automotive, agriculture, aerospace, renewable energy, fuel, financial, manufacturing, ICT, tourism, construction and pharmaceutical sector. Key elements that were noted during the working group meeting include: better co-ordination and structured engagements across and between private sector groups and government, infrastructure limitations, regulatory impacts and administered pricing.
In our meeting shortly after this briefing, we will engage with new sectors that will be part of this exciting initiative. These sectors include the banking, defence and water sectors. We will explore ways in which these sectors can contribute to the country plan.
We are confident that more private sector groups will participate in the initiative and that more projects will be identified over the next five years. We hope that this initiative inspires more collaboration in our country and beyond to give impetus to our quest for higher economic growth, increased investment coupled with an equitable, and poverty free society in which all have the opportunity to participate in our economy.
There is a popular saying that, “If you want to go fast, go alone. If you want to go far, go together.” I am confident that government will go far in its partnership with business.