Key government policies
Growing industry through financing key projectsThe IDC’s adapts its role in sustainable economic development as national priorities evolve.
Two frameworks guide our approach: the New Growth Path and the Industrial Policy Action Plan.
New Growth Path
Key drivers in government policy are the creation of jobs, the reduction of inequality and poverty alleviation. To ensure this happens, the government has set out on a New Growth Path.
This path is both bold and imaginative in its destination – the creation of millions of new jobs. At the same time, it takes into account the broader global factors that impact locally.
The New Growth Path also outlines how South Africa can achieve a more developed, cohesive and equitable economy. It identifies specific focus sectors to generate an inclusive, green economy.
Find out more about the New Growth Path.
Industrial Policy Action Plan
The Industrial Policy Action Plan (IPAP) sets out in detail key actions and time frames for the implementation of industrial policy. It has three main components:
- A range of sectoral actions;
- A set of cross-cutting actions of particular importance for industrial policy; and
- Measures to improve government’s organisation and capacity to implement industrial policy.
The action plan aims to promote long-term industrialisation and diversification beyond traditional commodities and non-tradable services, expanding production in value-added sectors with high employment and growth opportunities.
Emphasis is placed on labour absorbing production and services sectors, increasing access to the economy of historically disadvantaged people and regions, and building South Africa’s contribution to industrial development beyond our borders.
Find out about the IPAP [PDF].
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