Minister of Trade and Industry Rob Davies,
Deputy Minister Mzwandile Masina,
Ministers, MPs and Executive Mayors,
Board members of Proudly South African and Brand South Africa,
Representatives of business and labour,
Adjudicators,
Sponsors,
Ladies and gentlemen,
It is a great pleasure to address you this evening on the occasion of the Third Annual South African Premier Business Awards.
We are gathered to honour the spirit of entrepreneurship in South Africa and to recognise excellence among our country's entrepreneurs.
The business people we are honouring tonight keep the wheels of our economy turning.
They don't only create wealth and work.
They also create hope and opportunity.
As government we will continue to strive to make it easier for companies to grow, to invest and to create more decent jobs for South Africans.
As we celebrate South Africa's entrepreneurs, we must acknowledge that our economy is still faced with profound challenges that require a coherent and concerted response from all social partners.
In 1994, we inherited an economy with deep structural deficiencies.
We had to put in place interventions to ensure economic stability and encourage growth.
We have focused on transforming the economy, introducing appropriate levers to grow strategic sectors of the economy and creating employment opportunities.
Significant progress has been made during the past two decades.
However, we need to do more and we need to do it better.
Our economy needs to grow at a faster rate to create jobs and eliminate poverty.
The strong growth South Africa experienced in the mid-2000s - which was fuelled by the global commodity 'super-cycle' - concealed deep structural problems in our economy.
This was evident in the declining contribution to GDP of productive sectors and under-investment in economic infrastructure.
The National Development Plan outlines a long term vision for South Africa that includes growing a more competitive and diversified economy.
The Industrial Policy Action Plan, the New Growth Path and the National Infrastructure Plan all contribute to the realisation of this vision.
During the 2015 State of the Nation Address, President Jacob Zuma announced a nine point action plan to address the constraints to economic growth.
This plan includes greater beneficiation of our mineral wealth, more effective implementation of the Industrial Policy Action Plan, encouraging private sector investment, resolving the energy challenge and unlocking the potential of SMMEs, cooperatives and township and rural enterprises.
Radical economic transformation and inclusive growth remain the core priorities of this government.
Our policy of broad-based black economic empowerment plays a key role in increasing the participation of previously disadvantaged groups in the mainstream economy.
President Zuma recently launched the black industrialist programme, which seeks to unlock the potential of black entrepreneurs in a way that contributes to the reindustrialisation of our economy.
That is because South Africa's manufacturing sector is pivotal in ensuring economic growth.
It has the potential to create both direct and indirect jobs.
Government has therefore put in place various mechanisms to support manufacturing.
In 2012, we launched the Manufacturing Competitiveness Enhancement Programme, which encourages local manufacturers to improve their competitiveness.
During the last financial year, 236 enterprises were approved for funding under this programme, with a total grant value of R1 billion.
The investment leveraged R3.7 billion in support of 28,000 jobs.
The Industrial Policy Action Plan - known as IPAP - is a three-year rolling plan that seeks to develop and diversify the economy's productive capacity.
The next iteration of IPAP, which we will be launching in the next few weeks, identifies new opportunities and introduces support measures to grow prioritised sectors.
It focuses on the potential of Special Economic Zones to advance regional industrialisation by clustering manufacturers that add value and enhance employment.
Achievements have been recorded in strategic sectors such as the automotive industry.
Nearly R14 billion has been invested in new automotive and components plants since 2009 supporting more than 56,000 jobs.
We are equally pleased with the impact of our interventions in agro-processing and biofuels, capital equipment, plastics, pharmaceuticals and cosmetics, clothing and textiles, and business process services.
We will continue to give attention to the amendment of those areas of business regulation needed to enhance enterprise and industrial development, fast-track economic transformation and equity, and protect consumers.
Procuring South African-manufactured products remains crucial to creating and sustaining jobs.
This is why we encourage all South Africans to rally behind the work of Proudly South African and the Buy Back South Africa campaign.
Through these Business Awards we seek to encourage businesses to embrace transformation and play their part in growing our economy and making South Africa a globally-competitive nation.
The South African Premier Business Awards celebrate companies that invest in human and technical capabilities, and that produce quality products and services.
Ladies and gentlemen,
Business is not solely about profits. It is also about serving a broader purpose.
Enterprise is not just an economic good. It is also a social good.
As you build your businesses, please consider how they can contribute to building social cohesion.
Think not only about what you would like to achieve for yourself, but also what you would like to achieve for our nation.
Congratulations to all the deserving finalists and the worthy winners.
Thank you to the Gordon Institute of Business Science, ABSA and Tsogo Sun for supporting these awards.
It is a clear demonstration that, working together, we can and will move South Africa forward.
I thank you.
