CAPE TOWN — Newly reappointed Trade and Industry Minister Rob Davies has witnessed the success of the government’s support programme for the motor industry and would like to see it replicated in other sectors over the next five years to accelerate industrialisation, economic growth and job creation.Though some academics have questioned the efficacy of state incentives to industry, Mr Davies is convinced they are working.This year, the media was told during a briefing of the economics cluster that investment incentives provided by the Department of Trade and Industry had stimulated about R143bn in private-sector investment and created about 144,000 jobs in the past five years.Outlining the objectives for his new term of office in an interview on Wednesday, Mr Davies admitted that broadening the incentive programme across more industries would cost the state a lot more and that the budget for this year has already been allocated.However, this was a long-term project which could be rol...
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