Hon Chairperson, Ministers, Deputy Ministers and members, the institutional architecture and systems which define the organisational structure of the department have been established. I want to congratulate the Minister on the sterling work done in terms of the New Growth Path document, which guides much of the policy direction of the department. Similar initiatives around the green economy, in regard to stimulating debate and policy directives on how to promote development in this sector, are evident.
What I am not seeing as forthcoming is credible and successful interventions around the second economy. A substantial body of knowledge exists around the second economy, but what is needed are clear economic linkages in regard to economic overflows between the two.
While inclusive, labour-absorptive growth is a policy objective, this will be difficult to achieve in the context of the current international economic environment, given the recessionary environment and the eurozone debt crisis. However, from a South African perspective, this is essential for the government's infrastructure build programme.
Minister, from a spatial investment perspective, we need to get an idea of future economic growth nodes and what type of industrial activity can be located there. In this regard, the advent of SEZs will encourage development in appropriate investment locations. I want to thank the previous head of the Competition Commission, Mr David Lewis, for the outstanding job done at the commission by way of landmark rulings and the eventual professional handling of the Walmart case. I hope the professional skills base established at the commission will remain in place and continue to probe anticompetitive practice. However, having said that, we must not politicise the rulings of the commission or want to plan outcomes driven by ulterior motives, as happened in the Walmart case.
The Industrial Development Corporation continues to play a catalytic role in stimulating economic development and in the provision of finance in support of Ipap. With its experience, acquired in various sectors of the economy, it should play a more valuable role in sector development plans. Despite the current volatile economic environment, the IDC continues to make strategic investments and is not too risk averse, compared to the commercial banking sector.
Another innovative project is the series of economic dialogues hosted nationally by the Minister. It is important to gain some national consensus on economic policy and what types of interventions are required. These discussions should continue with various role-players so that eventually we have a social accord in regard to economic policy development.
There are many accords that have been developed for various interventions, ranging from basic education and the National Skills Accord to the Local Procurement Accord, etc. There needs to be oversight over commitments made in these accords. The select committee will hold the Ministry accountable for these accords and ensure that real tangibles are delivered. They may not be empty commitments made by various role-players.
The National Planning Commission's Diagnostic Document and Elements of the Draft Vision Statement for 2030 report gives insight into the economic challenges facing the country. It is important that the Department of Economic Development factors into its planning an analysis of this ... [Time expired.] [Applause.]