South Africa has recommitted itself to industrialisation, re-industrialisation, transformation, and establishing a capable state through economic growth based on constitutional principles aimed at building a better future for all.
This was the message from Minister of Trade, Industry and Competition (dtic), Parks Tau on Friday, during his virtual participation in the 8th meeting of BRICS ministers of industry.
The gathering was part of a series of BRICS meetings that Russia is hosting in preparation for the BRICS Summit that takes place in Kazan, Russia, in October.
Tau stressed that while SA continued to support more traditional sectors, the country must look towards the future of industry to ensure South Africa’s economy was future proof.
“To address historical structural inequalities, unemployment and poverty, there is a consensus among the social partners that we have to mobilise all our resources and efforts in economic activities intended for a sustainable recovery trajectory,” he said.
“Economic recovery also means cooperation for a stronger, greener, and healthier global system. We would like to see partnerships that contribute positively to increase South Africa’s manufacturing production and output and extending into the region of the African continent.”
Tau also emphasised that South Africa must promote digital industrialisation, and the emerging technologies to address the digital divide and ensure shared benefits of digitisation.
“Together we face the next face of evolution of the digital and gig economy, which confirms the importance for industries to further digitise and take advantage of the next wave of technological progress and innovation,” the minister said.
“Industry 4.0 has brought forth opportunities for businesses to enhance their competitiveness through the adoption of advanced technologies such as artificial intelligence, robotics and the Internet of Things,” Tau said.
At the conclusion of the meeting, the adoption of the joint statement by the BRICS ministers underscored a shared vision for a stronger, greener, and more interconnected global economy.
BUSINESS REPORT