accelerated
22 June 2006
The Gauteng government will accelerate the implementation of its Growth and
Development Strategy (GDS). This was announced by Gauteng MEC for Finance and
Economic Development, Mr Paul Mashatile, when presenting his Department's
budget to the Gauteng Provincial Legislature.
"As directed by the Premier during the State of the Province address, we
will this year accelerate the implementation of the GDS," Mashatile said. He
said the implementation of the GDS will contribute to the achievement of the
overall objectives of the Accelerated and Shared Growth Initiative for South
Africa (AsgiSA).
Launched in April 2005, the GDS identifies a number of sectors that are
critical towards the growth and development of the Gauteng economy. These
sectors will be targeted for stimulation by the provincial government in order
to facilitate accelerated and shared growth of the economy. The objectives of
the GDS include growing the Gauteng economy at a rate of eight percent and
halving poverty and unemployment by 2014.
Mashatile said the provincial government will continue to identify
interventions that will accelerate the growth of the economy, create jobs and
reduce poverty. "Inspired by the success of Blue IQ initiatives, there is a
need to consider further high impact projects that will ensure that we register
new gains in our ongoing effort to grow the economy," Mashatile said.
A GDS fund capitalised to the tune of R1,3 billion has already been
established. Out if this fund over R134 million was allocated to various
departments to fund projects aimed at stimulating economic growth and job
creation. During the current financial year more projects aimed at stimulating
economic growth and job creation in line with the GDS will be funded.
Mashatile said Gauteng will host a GDS Forum in October this year. The forum
will bring together stakeholders to assess progress made in the implementation
of the GDS and to agree on a way forward to further accelerate its
implementation.
For more information contact:
Percy Mthimkhulu
Cell: 082 379 1913
Issued by: Department of Economic Development, Gauteng Provincial
Government
22 June 2006
