South Africa's new Industrial Policy is projected to create around 2.5 million jobs over the next decade by boosting production, inviting new investments and also by protecting, local manufacturing units.
The textile and automotive sectors have been major beneficiaries of the new policy since they are two critical job generating sectors. The government has extended support of R1.8 billion spread over three years to these two sectors.
Reacting to the new policy initiatives, a spokesperson of Apparel Manufacturers of SA, Johann Baard said they had hoped for more, but more important was the fact that the policy gave a certainty and enabled businesses to plan for the future.
Andre Kriel, General Secretary of South African Clothing and Textile Workers Union (SACTWU) welcomed the allocation by saying, “We look forward to working with the Government as to how this allocation will be spent rapidly and as efficiently as possible."
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