By Delisa Thwala
Prime Minister Russell Mmiso Dlamini is targeting an average economic growth rate of 12%.
This he revealed in his Economic policy which seeks to unpack and accelerate the ‘Nkwe’ policy statement.
Dlamini said following the Nation’s submissions at Sibaya, it is vital that the Government takes immediate action to revive the national economy and improve service delivery to all areas of the Kingdom.
“A progressive investment and industrialisation policy framework targeting an average economic growth rate of 12% within the next five years shall be developed and implemented,” said the PM.
He further said this ambitious target will be achieved through a government-led long-term transformation agenda of the economy promoting industrialization and supporting mega investments and growth in key sectors such as infrastructure, agriculture, manufacturing, and services.
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“Government State Owned Entities will play a critical role and will be strengthened and closely monitored to be actively involved in the execution of the economic policy.
The overall policy agenda is designed to be export-oriented and catalysed by active private sector participation to unlock Foreign Direct Investment,” he said.
In addition to that, the Honourable PM said dedicated support for Micro, Small and Medium Enterprises (MSMEs) will contribute toward economic growth.
He highlighted that measures will be put in place in collaboration with the private sector to provide financial and non-financial assistance for MSMEs.
“The role played by innovation and technology in supporting small and large enterprises and ultimately their contribution to the economy will be harnessed.
This will be encouraged and supported through the establishment of the innovation and technology start-up centres and continued support of the Special Economic Zones (SEZs),” said the Prime Minister in his Policy statement.
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Worth mentioning is that restrictions to economic growth and a business-ready environment will be continuously identified and eliminated.
Key to this is a change in Policy and Legislation to reflect the Government’s ambitious agenda of harnessing FDI througha conducive business-ready environment.
Dlamini said the government will be an active enabler leading in developing viable business concepts, securing partnerships with global players and innovative financing models.
“Government will deliberately and proactively invest to stimulate and grow the economy through infrastructure and establish a sovereign wealth fund through which to fund development economic growth,” he said.
