How incentives and SEZs are creating jobs and uplifting poor areas, according to Rob Davies
Trade and Industry Minister Rob Davies highlighted the job-creating potential of his department’s incentive programme, and the importance of special economic zones, when he addressed MPs on Tuesday. He said the R18.8bn allocation in the budget over the next three years for the Department of Trade and Industry’s incentive programmes would enable the government to continue to provide financial support to the private sector. The focus would be on labour-intensive sectors that could create jobs for youth. Davies briefed Parliament’s trade and industry portfolio committee on the implications of President Cyril Ramaphosa’s state of the nation address (Sona) and the budget for the mandate of his department. In providing an overview of the incentive programme, Davies said that on average the department processed four applications and five claims a day. In 2016-17 the department spent R12.8bn in grants, the tax allowance scheme and loans — which was expected to generate R39.4bn in projected ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.