BLSA members are ready to work with the DTIC to help grow South Africa’s economy and meet other business challenges.Business and the Department of Trade, Industry and Competition have many common goals, with South Africa’s economic well-being the most obvious. Therefore, business wants to help find solutions to any obstacles that stand in the way of achieving those goals.
She points out that currently, complex and inconsistent regulatory requirements deter business operations and foreign investment, while frequent changes in legislation increase the cost of doing business and the compliance burden. Mavuso says there is a powerful opportunity for industry-government collaboration in the evolution of the special economic zone programme, which currently lacks both the required investment and a nationally integrated work programme.
Mavuso also calls for greater economic policy coordination. “Several issues have been widely acknowledged as causing unnecessary friction and increasing the cost of doing business in South Africa. These include exchange control regulations, crime, skills shortages, unnecessary regulatory red tape, the need to broaden internet connectivity and the well-documented challenges related to energy security, reliable electricity and water supply and the ports, rail networks and logistics hubs.