Activity in the manufacturing sector has been slowing since before COVID-19, with competitiveness in the sector said to be lagging emerging market peers.Proudly South Africa says there is a need for greater support for locally-made products. It urges corporates and industry bodies to galvanise their members to choose local products, thereby supporting job creation in the country.
Activity in the manufacturing sector has been slowing since before COVID-19, with competitiveness in the sector said to be lagging emerging market peers.Economist Dr Iraj Abedian says the manufacturing sector is in urgent need of a turnaround in terms of its contribution to the economy as well as export competitiveness.
“Our report suggests that we need to separate 2 categories of requirements for revitalising our manufacturing, 1 we should, no matter which sector those are systemic requirements, for example, we need to have electricity, you need to have ports, transportation, water and so on, those are irrespective of which type of industry you want to promote, and then the second one is for specific industries, for specific sectors you need to have a different set of policies, government has introduced the...
Proudly SA CEO Eustace Mashimbye says, “The study calls for a 10% increase in investments in manufacturing to help not only halt that slow down but to also as a labour-intensive industry in its nature see it flourishing doing better, absorbing more people into jobs and ensuring that we can be sustainable, it’s also about the security of supply in instances where we may encounter global supply chain disruptions but most importantly it’s the triple challenges of unemployment poverty and...
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Source: SABC News Online - 🏆 32. / 51 Read more »