Hon members the executive hit the road running in the past 4 weeks to implement

Hon members the executive hit the road running in the

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Hon members, the executive hit the road running in the past 4 weeks to implement the electoral mandate and the National Development Plan, NDP. On Friday, the day after state of the nations address, 93 agreements were signed between South African suppliers and Chinese companies, to buy local products for export to China, with a contract value calculated at R27 billion, which will strengthen growth and jobs here in South Africa. [Applause.] To promote opportunities for African economic integration, two weeks ago Deputy Minister Majola participated in the conclusion
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 394 of trade agreements between SACU, and the East African community. These agreements lay the basis for increased intra- African trade and cement the continent’s position as the next growth frontier. At the Africa Big 7 export promotion exhibition, Deputy Minister Gina highlighted the strengths of South African food exporters. Two weeks ago, Minister Ndabeni-Abrahams and I agreed in Japan with our G20 counterparts on ways to unlock opportunities in the digital economy. We also developed approaches to maintain exports in the face of growing global trade tensions. To ensure South African jobs and trade are protected whatever happens with Brexit, I am engaging with my UK counterpart about accelerating work on a bilateral trade agreement, working closely with SACU partners, and we will prioritise this. Illegal import of goods through our ports, remain a significant challenge damaging tens of thousands of South African jobs. In the past week, as a start, we engaged with both the new Commissioner of SA Revenue Services, SARS, and the Ministry of Commerce of China to seek urgent and joint action to address
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 395 this. What these examples do? They underscore our commitment to practical and decisive actions to address blockages to growth. On Thursday, President Ramaphosa laid out a vision of an energised economy. To implement it, we are setting clear timeframes and meeting with investors and labour to consider concrete actions to grow industrial output and jobs, building on the Public Private Growth Initiatives, PPGI. Hon Shivambu, it is not Van Zyl Slabbert, but Toyota’s Dr Jan van Zyl. To capitalise on the R71 billion surge in Foreign Direct Investment, FDI, last year into South Africa, we are engaging domestic and foreign investors to strengthen the enabling environment for investment in the productive sectors; and with the finance industry to unlock the R100 billion industrial finance commitment made at last year’s Jobs Summit. I should make the point that China use FDI very strategically to build the industrial capability and technology while boosting domestic savings.
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 396 Hon members, let me share a few examples of significant new investments: Next month, in July, two new investments will be launched, a R135 million high-voltage cable manufacturing plant expansion in Port Elizabeth and the opening of a new R50 million composites factory in Germiston. In August, the Toyota Hi-Ace
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