Page 511 - Provincial Treasury Estimates.pdf

Estimates of the Provincial Revenue and Expenditure (EPRE) – 2023/24 Financial Year
x Promote economic development through the Economic Stimulus Fund as well as through the new
Economic Development Fund;
x Promote economic growth and development of local economies in partnership with key stakeholders
by aligning Local Economic Development (LED) initiatives with government programmes as well as
creating and facilitating an enabling environment for implementation. This includes small town
revitalisation and the development of township economies;

x Increase the number of jobs created through sector and cluster development and support sustainable
initiatives, agro-processing, manufacturing and the revitalisation of old industrial parks;

x Facilitate the development of strategic infrastructure projects that will stimulate the competitiveness of
priority sectors in the provincial economy. Focus is placed on socio-economic infrastructure, Operation
Phakisa, the Black Industrialisation Programme and support of Strategic Infrastructure Programmes
(SIPs);

x Support manufacturing and service industries through the promotion of special economic zones;
x Promote consumer rights, develop systems for effective regulation of the liquor, gambling and betting
industries in the province;
x Provide credible information and databank that informs economic policy and planning processes;

x Support the development of tourism in the province for competitive product offerings;
x Establish, implement and maintain effective systems to manage the sustainable utilisation of biological
resources and conservation of ecosystems;
x Establish, implement and maintain effective systems using environmental legislation to protect the
environment and implement environmental awareness programmes to empower communities; and
x Facilitate informed environmental decision-making through the implementation of comprehensive
environmental planning and coordination mechanisms.

1.5 Demands for and expected changes in the services
The 2-year long COVID-19 pandemic and subsequent lockdowns has impacted negatively on all facets of
social and economic activity. At the same time the budgets were severely cut. This requires a different
approach to how work is delivered together with other partners and stakeholders since the focus is now
on economic recovery both at a provincial and national level. DEDEAT is the centre for economic growth
and sustainable development through collaboration, co-ordination, facilitation, integration and support
provided to all Economic Development (ED) cluster departments in order to improve economic growth and
sustainable development. The province is faced with high unemployment rate as well as high level of
inequality and distribution of income. Furthermore, de-industrialisation and the poor investor climate create
a challenging environment for the department to create economic opportunities for investment and
associated job creation. The Provincial Economic Development Strategy (PEDS) and the Jobs Strategy
require a new set of industrial skills in areas such as petrochemicals, green technology manufacturing,
agro-processing and auto-manufacturing.

Over the 2023 MTEF, the focus will be on the coordination and implementation of key economic projects
to stimulate economic growth and development in the province. The Premier has mentioned the word
‘infrastructure’ 31 times in the State of the Province Address. It means DEDEAT has to actively support all
applicable infrastructure projects. The Local and Regional Economic Development (LRED) programme
continues while previously funded stimulus fund projects will be monitored and supported. There is also a
huge demand for SMME assistance with financing through the Eastern Cape Development Corporation
(ECDC), which is unable to meet demand. However, funding challenges are impacting the advancement
of loans to SMMEs. For 2023/24, the target is to support 70 SMMEs through non-financial support.
Furthermore, the establishment of the Economic Development fund under the ECDC in 2023/24 will
provide resources to overcome these challenges.

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