The Minister of Economic Development, Mr. Ebrahim Patel has today tabled the Economic Development Department’s (EDD) Annual Report for 2010/11 in Parliament, together with the Annual Reports of samaf, Khula, the Industrial Development Corporation (IDC), the Competition Commission, the Competition Tribunal and the International Trade Administration Commission (ITAC).
Significantly EDD and all its entities received an unqualified audit opinion from the Auditor-General, as reflected in their Annual Reports.
“This represents a significant achievement as the 2010/11 financial year was EDD’s first full year of operation and the first year in which the department was formally audited by the Auditor-General, said Minister Patel.
A core motivation for the establishment of EDD was to enhance government’s focus of decent employment and economic transformation through inclusive growth. “Major milestones in 2010/11 include the adoption by Cabinet of the New Growth Path (NGP) and the signing of the Outcome 4 Delivery Agreement,” said Minister Patel. “Outcome 4 is one of 12 outcomes identified by the President and is aimed at achieving decent employment through inclusive growth,” he said.
The social dialogue efforts have moved ahead steadily. In the past year, government initiated social dialogue with its social partners, business, labour and community constituencies represented at Nedlac.
“These dialogues have yielded concrete agreements include the first two major accords on skills and basic education,” said Mr Patel. “This will soon be followed by further accords on local procurement and the green economy,” he said.
The Annual Report provides details on progress on the difference aspects of EDD’s work. Some of the highlights include the following:
- A number of policy platforms were held including a public lecture by Professor Joseph Stiglitz, world-renowned economist and member of the Economic Advisory Panel established by Minister Patel. The Economic Advisory Panel met three times during the year, including an engagement with President Zuma. The Panel was a constant resource to the Minister during the year.
- A workshop and summit on the Green Economy were held in May, and In December a Green Economy Business Forum in December. EDD advised the Minister on policy issues including iron and steel prices and completed initial work on a youth employment strategy, economic inclusion and cooperatives.
- Through the Economic Development MinMec and bilaterals, EDD facilitated the unblocking of projects being implemented by provincial governments and metros.The support of provincial economic development departments and metros was enlisted to implement aspects of the NGP and IPAP2 at provincial and local levels.
- EDD secured additional funding for its entities, including R55 million of Khula Direct and R250 million for an Agro-processing Competitiveness Fund administered by the IDC.
- EDD intervened in the Walmart/Massmart merger together with the Department of Trade and Industry (the dti) and the Department of Agriculture, Forestry and Fisheries. The case is continuing in the current financial year and is currently before the Competition Appeal Court. EDD also met with parties to other mergers to discuss conditions.
The Minister participated in the drafting of the Beijing Declaration (the Comprehensive Strategic Partnership with the People’s Republic of China) and accompanied President Zuma on a State Visit to China in August.
Enquiries:
Zubeida Jaffer (Communications Specialist)
Cell: 082 698 6677
