Embattled South Africa is planning to introduce new incentives in key industrial sectors and reduced red-tape in order to revive the country’s moribund economy.
The economy which got into technical recession recently, is getting messier because of the increasingly hostile international trade environment.
Trade and Industry Minister Rob Davies said the government would target industries such as auto and agro-processing and continental trade relations as part of a package to draw investors back to South Africa.
He said the state had also reviewed its bureaucratic red tape to make it easier for investors to start new businesses in the country.
“Some of them (incentives) are sectoral, we have the motor programme, the clothing and textile programme, we also have a business processing services programme as well as the agro-processing programme,” Davies said.
“There are also tax incentives. There are specific incentives that apply to…
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