Public-Private Partnerships/Government/Business
BuaNews, 17 October 2002, Government, Business Agree the Country is On Course

By Mantshele Wa Ga Tau

Government and business have agreed that South Africa is on course towards economic growth and needs to speed up the implementation of sound economic policies.

Coming out of the crucial meeting in Cape Town yesterday the state and the Big Business Working Group echoed these sentiments saying that 'there was a need for speedy implementation of good policies.'

President Thabo Mbeki had hosted this meeting, which was attended by government's economic cabinet team and the Big Business Working Group, which consists of some of the country's top industrialists and financier.

Heads of three SA companies listed in London - Tony Trahar of Anglo American, SABMiller Chief Executive Graham Mackay and Jim Sutcliffe of Old Mutual, also attended.

President Mbeki's spokesperson Bheki Khumalo told BuaNews the two stakeholders also agreed that there was need to address challenges - Zimbabwe and HIV/AIDS by developing common messages around them.

'Big business made presentation about business confidence and on the other side, government briefed business about the International Investment Council (IIC) meeting which was held over the weekend,' he said.

Government informed Big Business Working Group that the IIC commended the country for having built a successful economic nation since 1994.

In the meeting held in Durban, government representatives, big business from South Africa and abroad as well as member of the IIC, commended the progress made in the country's marketing strategy and gave suggestions for further sharpening the marketing messages.

meanwhile, according to Mr Khumalo, government had agreed to hold a two-day summit as a follow up, as soon as possible, to discuss issues of confidence and investment in South Africa, to clear the way for the Growth and Development Summit early next year.

Talks between government and business take place about three times a year, and are in terms of a nine-point investment framework by big business to explain the key issues necessary for the confidence in SA and its economy.

The nine issues include constitutional certainty and legal guarantees, as well as five key policy areas fiscal, monetary, trade and industry, labour market and privatization.