The Department of Trade, Industry and Competition and organised business can improve the business environment. The new minister’s quick action after he was appointed to engage with business is good news for the private sector.
“The minister really gets it. He has highlighted the importance of industrial policy that supports export-led growth and highlighted the need to revisit the Economic Recovery and Reconstruction Plan developed by B4SA during the COVID-19 pandemic to identify implementable strategies.”Mavuso says he is very clear about the importance of collaborative efforts, emphasising the need to work together in crafting solutions and synchronising initiatives. “These are all positive sentiments.
Among those the minister named for review are important regulators like the Competition Commission and Takeover Regulation Panel, as well as funders like the Industrial Development Corporation, National Empowerment Fund and Export Credit Insurance Corporation, all of which have the potential to be important drivers of economic activity if they function optimally, Mavuso says.