Launching the Maluti-a-Phofung Special Economic Zone, President Jacob Zuma asserted that the majority of South Africa cannot continued to rely on the skills of the minority.
Expressing that he’s delighted to launch the Maluti-a-Phofung Special Economic Zone in Tshiame within the Maluti-a-Phofung Local Municipality, President Zuma remarked that government picked the region because it’s convinced of its long-term economic potential.
According to Mr Zuma, the launch and development of the Maluti-a-Phofung Special Economic Zone is a demonstration of government’s promotion of industrial development.
The industrial development he said, is key to South Africa’s long-term economic success and prosperity.
“We want to change the way our economy is structured currently. Our current reliance on exporting minerals and other raw materials to other countries is a sure recipe for an economy that enriches the few at the expense of the majority.
“This, of course, will just deepen the already high levels of inequality in our society,” stated the President.
With that, Zuma upheld that the Special Economic Zones Programme is very important to South Africa’s economic development goals.
He said the government has already attracted over R9 billion worth of investments across the country through the Special Economic Zone Programme.
“We will work harder to ensure that key growth points and regions become centers of industrial competence.
The radical economic transformation programme also requires increasing the participation of Black Industrialists and Entrepreneurs in key value chains and industrial sectors of our economy.
The majority cannot continue to rely on the skills and know-how of the minority, even though these are very important and needed in the economy.
The majority cannot just limit their dreams and aspirations to being workers. The shackles of economic subjugation have long been broken.
The majority must increasingly produce innovators, investors, entrepreneurs, industrialists, and many other forms of economic value addition.”
Zuma buttressed on the sentiment above specifying that he’s not in anyway implying that the contribution of the minority is not valuable.
He clarified that he’s only contending “that the economic cake can only be bigger and better if” the industrial economy is built on the full potential of all the country’s citizens and regions.