- This topic is empty.
Viewing 1 post (of 1 total)
-
Posts
-
Scrap EWC, localisation master plans, IRR urges GNU
South Africa’s economy will not grow “as long as the government insists on keeping the handbrake up”, warns the Institute of Race Relations (IRR).
To set the country on the path of growth, the Government of National Unity (GNU) must scrappolicies such as localisation and expropriation without compensation (EWC).
These are key recommendations in the IRR’s third paper in its #WhatSACanBe series, Investment: Eliminate Barriers, Empower Job Creators.
In a statement, the IRR urges the GNU to take these steps welcome investors “with open arms”.
“At the core of the government’s current localisation agenda are multiple sectoral master plans which diminish South Africa’s commitment to economic growth and to the African Continental Free Trade Agreement (AfCFTA).
“Localisation, higher tariffs and subsidies have all led to an uncompetitive economy which has stalled growth, and failed to upskill South Africans or create jobs.”
The IRR points out that economic conditions “continue to scare off investors, for whom secure property rights and a balanced trade environment are the reassurances they need that their investments are safe”.
In view of this, the new Minister of Trade, Industry and Competition, Parks Tau, “should scrap the master plans, which are a relic of yesteryear, and embrace freer trade”.
Comments IRR researcher, Chris Patterson: “Free trade is the key to success and true economic freedom. The Government of National Unity cannot continue to pay lip service to economic growth and the wellbeing of South Africans without releasing the handbrake of localisation, tariffs and subsidies.”
The reforms South Africa must implement are not difficult, the IRR argues, but are essential to turning the country into a place that attracts investment rather than pushes it away.
The IRR says it stands ready to help South Africa through its #WhatSACanBe proposals, especially in promoting economic development and growth at home and across the continent.
SOURCE:Scrap EWC, localisation master plans, IRR urges GNU – Daily Friend
Viewing 1 post (of 1 total)
- You must be logged in to reply to this topic.