Economic Planning

 "We provide support to the provincial leadership and enable economic growth through the generation and co-ordination of economic research and planning, and through the active support of key economic thematic drivers and enablers that will stimulate economic growth across the economy and within sections of the economy."

CATALYTIC INITIATIVES

Infrastructure is vital to stimulate investment and GDP growth by creating an enabling environment for business. Catalytic Infrastructure (infrastructure for business) acts as a facilitator and enabler for the mobility of labour, capital and other inputs to production, thus improving productivity and reducing costs. It increases information flows; opens new opportunities specifically for job creation purposes; increases competition and reduces asymmetries and other market imperfections or failures. Examples of catalytic initiatives include economic and industrial zones, hubs, and tourism attractions.

Looking at a competitive advantage framework for industries and nations, infrastructure is regarded as a fundamental component of the “factor conditions” and is critical to fostering clusters and the value-chains for sectors. Infrastructure is vital to stimulate investment and GDP growth by creating an enabling environment. It provides for efficient resource allocation and economies of scale. Evidence shows that a 10% increase in infrastructure assets increases GDP per capita by 0.7% -1%. Key to productivity growth is growth in fixed capital (assets and capital such as property, plant and equipment) available per capita. Infrastructure development enhances competitiveness and product diversification. This boosts exports and localisation supporting employment creation.

For the purposes of Infrastructure, the Programme therefore seeks to support the development of economic development infrastructure that can attract investment thereby growing the Western Cape economy and creating jobs.

Catalytic initiatives include:

Saldanha Bay IDZ (SBIDZ)

The development of the Saldanha Industrial Development Zone will continue as a key driver of the Oil and Gas and Marine Engineering Sector with the first elements of the customised infrastructure of the Oil & Gas and Marine Engineering hub in place in Saldanha Bay. The IDZ is playing a catalytic role to unlock the industrialisation potential of the West Coast, and Saldanha in particular.

Read more about work on the Saldanha Industrial Development Zone at www.sbidz.co.za

Atlantis Special Economic Zone (ASEZ)

The ASEZ entity was established as the managing company for the ASEZ in alignment with the SEZ Act 16 of 2014. This was a critical step towards operationalising the green-technology focused Atlantis Special Economic Zone that aims to catalyse significant investment and job creation over the next five years into the Region.

The ASEZ Co will continueto implement the already initiated and successful investment recruitment drive to achieve the 5-year outcome target of value of investment facilitated. Lastly, the ASEZ will continue to implement the skills-, enterprise- and community development programmes with and for the businesses and community of Atlantis.

Read more about the Atlantis Special Economic Zone at www.atlantissez.com

DIGITAL ECONOMY

In the absence of any formal, recognised definition, the Digital Economy can be defined as the economic activity resulting from the billions of online connections in a hyper connected world comprising people, businesses, data, devices, and processes. Tied to this is the concept of Digital Disruption, which is the way in which digital technology is transforming markets, the workforce, productivity and competitiveness. Digital technology is increasingly disrupting citizen behaviour and organisations across all sectors in the way that they manage their businesses and carry out their operations. From evolving customer expectations, to the changing nature of products and services, all industries will need to equip themselves for a response to this evolving frontier. Broadband communications remains the foundation of all of the above.

The Western Cape has the vision of becoming recognised as the leading digital technology hub in Africa, and also the technology talent capital of Africa. Simply put, the Province intends to take a disproportionate share of the ZAR five trillion value introduced above and direct the lion’s share of investment to the Western Cape. The Western Cape can exploit its position as the leading digital ecosystem in Africa to champion a culture of innovation and talent, and the adoption of digital technologies, thus enabling job creation in a number of digitally linked sectors

Find out more about the work of the team at their site: www.westerncape.gov.za/site-page/digital-economy-unit

GREEN ECONOMY

The aim of the green economy is to improve the resource resilience of businesses through improved water and energy efficiency and waste reduction strategies and alternative sourcing of sustainable resources; and to enable and promote the provision of green economy goods, services and technologies that are locally manufactured as far as possible to support the above. This will create a resource resilient economy supported by and supporting a thriving and accessible green technologies, products and services sector – an international green economy hub. 

The key strategic interventions that will be undertaken to address the above include:

• Strategic and stakeholder co-ordination, including economic advocacy
• Direct support to businesses and municipalities to support economic resilience
• Unlocking systemic barriers
• Knowledge management and communications

Find out more about the work of the team at their site www.westerncape.gov.za/110green