Overcoming the trust deficit between government and the private sector is imperative in order to move the economy of South Africa forward.

This is according to Garth Strachan, Deputy Director-General responsible for Industrial Policy Development at the Department of Trade and Industry (the dti).

Strachan says, “We have to overcome the trust deficit that often exists between government and the private sector, especially the manufacturing sector.”

“This includes the dti building its own capacity to work much more closely with the private sector to undertake deep-dive granular research and information-gathering. “

“At the same time ensuring that the right regulatory policy mix is in place which is not a barrier, and that the opportunities which government envisages are made available to the private sector.”

“Successful industrialised countries are characterised by very strong, mutually beneficial relationship between government and the private sector.”

Adding, “The range of industrial policy support measures that government provides, which includes multi-billion rand of incentives, have to be deployed with a stronger focus on dynamic companies and reciprocal conditionality. This will enable the country to raise its productivity, competitiveness, export capabilities, energy efficiency and carbon mitigation.”

Source: Department of Trade and Industry