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Inclusive growth and development is critical

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Deputy Minister of Trade and Industry, Mr Mzwandile Masina addressing the inaugural Economic Research Advisory Network (ERAN) Conference Photo: thedti

The Deputy Minister of Trade and Industry, Mr Mzwandile Masina has called for government and academia to actively engage in the process of searching and identifying sustainable related development models for re-industrialisation and economic growth. Masina made this call during his address at the inaugural Economic Research Advisory Network (ERAN) Conference at the East London International Convention Centre yesterday.

Masina said the current period of expedition to re-industrialise and make substantial value-addition to South Africa’s raw material requires a dynamic, innovative, and creative African researcher who understands that the quest for economic transformation is premised on socio-economic justice.

“This new generation of African researchers must understand that inclusive growth and development is critical in our march towards achieving the objectives of the National Democratic Revolution. Increased participation of researchers and academia is important in the crafting and development of various iterations of the industrial development policy in the country. Without these, our people will forever toil in poverty and underdevelopment,” expressed Masina.

The MEC of Economic Development, Environmental Affairs in the Eastern Cape, Mr Sakhumzi Somyo described research as a critical enabler within the South African economy. He added that the country needs the best minds, working in the right direction, to produce the best economic intelligence possible.

According to Somyo, South Africa currently stands ahead of its peers on the African continent, with command of a large purse of resources – natural, financial and human resources.

“Yet these resources must be directed to the point of greatest impact if we are going to continue to lead the continent forward,” said Somyo.

Somyo further called on researchers and other delegates at the conference to use their energies to solve the complex economic puzzles which will unlock South Africa’s full potential.

ERAN is an economic research advisory network coordinated by the Department of Trade and Industry. It comprises of representatives from national and provincial economic development departments, other government entities, universities and research institutions.

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Eastern Cape MEC Sakhumzi Somyo presents his provincial overview to the Economic Research Advisory Network Photo: thedti

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