Doing Business

Red tape reduction efforts will prioritise challenges affecting  the business environment

The implementation of the Memorandum of Understanding (MoU) signed between the Department of Trade, Industry and Competition (the dtic) and the International Finance Corporation (IFC) will prioritise key red tape challenges affecting both domestic and foreign investors. This was said by the Acting Director-General of the Department of Trade, Industry and Competition (the dtic), Mr. Shabeer Khan during the signing of phase two of the Investment Climate Reform Programme (ICRP) Memorandum of Understanding (MoU), which took place in Pretoria today.

Phase 1 focuses on Business Regulatory Reform; Competition Policy and Market Regulation; and Investment Policy and Promotion. 

Khan explained that transitioning to phase two, the dtic would work with the office of the Presidency and International Finance Corporation (IFC) on streamlining the licensing for Independent Power Producers (IPP) generation to ensure that energy generation in the renewable sector is expedited and unblocked.

“Today is an opportunity to convene and to develop a responsive, transparent and targeted approach towards the eradication of red tape with the guidance of the Presidency. I would like to thank the Swiss State Secretariat for Economic Affairs and the IFC for their continued support of South Africa’s efforts to implement the reforms,” he said.

The IFC Director of Southern Africa and Nigeria, Mr. Kevin Njiraini lauded the signing of the MoU and stated that it was very significant because it demonstrated that reforms the government of South Africa had been doing were bearing fruit.

“Phase one was a test of that and we are happy with the reforms across multiple sectors and the commitment of the government to do further reforms is what makes the signing very important. Going forward, I hope that we will continue supporting the entry of foreign direct investment which President Cyril Ramaphosa has announced as a key factor of success for economic growth. Unemployment is very high and one way to address job creation is to remove excess red tape. The cooperation with the unit that has been created in the Presidency to remove excessive red tape is important and I hope that these would bear fruit,” he said.

 

Enquiries:

Bongani Lukhele – Director: Media Relations 

Tel: (012) 394 1643

Mobile: 079 5083 457

WhatsApp: 074 2998 512

E-mail: BLukhele@thedtic.gov.za 

Issued by: The Department of Trade, Industry and Competition (the dtic)

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