Ethekwini to rebuild city's economy2020-11-14 The eThekwini Economic Council is a milestone in the City's journey towards a broad social compact that will confront the challenges that impact the growth of the City's economy.
The Council will provide expert and cross-sectoral advice to the City's leadership on economic development, investment promotion and ensuring that there is an enabling environment for business within eThekwini. "We are a government that is committed to genuine consultation with all stakeholders, hence today we are entering in a social compact between government, organised labour, business, academia, traditional leadership, interfaith and civil society as a commitment to grow the city's economy and build a better life for all," said eThekwini Mayor Kaunda. The Council give guidance in the implementation of the postCOVID-19 Pandemic Economic Recovery Strategy and the Radical Socio-Economic Transformation Programme. These include the following: • Increasing manufacturing capacity of local industries • A minimum of 30% of the city's procurement spend must be utilised to establish a sustainable social solidarity economy driven by social enterprise • Introduce Infrastructure Procurement Reforms to drive Emerging Contractor Development Programmes • Implement an Oceans Economy Business Strategy • Establish a BBBEE Council to monitor the implementation, performance and enforcement of Sector BBBEE Charters in the Metro • Establish an Enterprise and Supplier Development Fund to drive value chain beneficiation, support the informal & township economy, SMME and Social Enterprise Development Implement a skills revolution master plan and syndicate Skills Development Funds across government, private sector and donors focusing on skills for the future; • Align key economic sectors to higher education institutions to create specialised centres of excellence in the production of skills for the new economy • Collaboration with the Government Warehouse Platform to support the local informal, township and rural economy; • Align the Implementation of Agri Parks Programme with rural economic development initiatives • Develop appropriate stimulus packages focused on reducing the cost of doing business for destressed sectors such as tourism sector and manufacturing • Implement energy reforms driven by renewable energy Utilise the Green Economy to create jobs and support Social Enterprises. |
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