Conditions were promising for the government to "raise its game" in terms of the implementation of industrial policy and to get more bang for its buck, Trade and Industry Minister Rob Davies said on Monday. The global economy was performing better and factors impeding local growth such as governance weakness and low investor and consumer confidence were being addressed. The more favourable outlook was a contrast to the strong headwinds, both local and global, that had worked against the implementation of industrial policy over the past 10 years. Contrary to critics who slammed industrial policy as a thing of the past because of the dominance of the services sector, most countries now had an industrial policy, he said. Davies made the comments at a media briefing on the latest iteration (the 10th) of the Department of Trade and Industry’s flagship Industrial Policy Action Plan (IPAP) for 2018-19 to 2020-21. The plan includes a range of incentives and other support measures for a numb...
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