In our globalised world, foreign direct investment is generally seen as the essential driver of economic growth.osa’s new dawn is a R1.2 trillion FDI target.
Shouldn’t we go beyond GDP in measuring progress in line with our constitutional vision and developmental objectives? For example, for many years China sought to achieve quantitative growth being employment for all even if it meant having the working poor. There poverty and disease are part of the village’s systemic problems, with some of the illnesses attributed to the mining virtually on people’s door steps.
The Thuma Enterprising Communities initiative currently being piloted at Emanzimeleni in KwaZulu-Natal says there are a lot of financial and other resources that communities can leverage to drive personal and community development within their own ecosystems. Would that offset the need for FDI that risks sabotaging progress towards a socially just and sustainably growing economy backed by sustainable democracy, the rule of law and peace?Exports could be one route and conditional FDI another.Is high GDP possible while the majority marinate in the abject poverty that sustainable development goals commit to eradicate by 2030?
Actually it is simple - an economy's two essential components. 1 ) how many people are employed. 2 ) how productive are they. By this measure on both counts this country is in serious trouble.