JOHANNESBURG, Aug. 21 (Xinhua) -- South African President Cyril Ramaphosa on Thursday launched the third phase of the government-business partnership, aimed at creating one million jobs and raising annual economic growth to more than 3 percent by 2030.
Speaking at the launch in Johannesburg, Ramaphosa said the government would provide policy certainty, efficient regulation, capable institutions and reliable public infrastructure, while improving the ease of doing business.
He said the partnership would establish work streams across sectors in cooperation with business, with clear objectives, measurable targets, firm timelines, and accountable leaders.
"Where implementation falls behind, we must intervene rapidly. Where policies or regulations are holding back investment without serving a legitimate public purpose, they must be reviewed. Where institutional capacity is weak, it must be strengthened. And where corruption or vested interests obstruct progress, they must be confronted," Ramaphosa said.
Ramaphosa said businesses have an important role to play in investing, expanding production, opening new markets, developing local suppliers, and creating jobs. He called on businesses to invest in skills, support small businesses, and pay suppliers on time, while stressing that the partnership should operate transparently and within the law without weakening the state's regulatory responsibilities.
Adrian Gore, chairperson of Business Leadership South Africa and co-convener of the partnership, expressed optimism about the government-business cooperation, saying targeted interventions could help unlock South Africa's economic potential.
"Growth is essential for large-scale job creation. We need to move beyond business as usual and lift growth above three percent if we are to start to create net jobs," Gore said.
The South African government has been working with the business sector to restructure the economy, address power shortages and remove transport and logistics bottlenecks. It has also changed legislation to allow private operators to participate in power generation and transport logistics. ■