New Growth Path ‘vital for economy’

29 May 2012

The New Growth Path is an important instrument to promote employment and growth in the economy, the African National Congress (ANC) and Business Unity South Africa (Busa) said on Monday evening.

“Both the New Growth Path and the National Development Plan were important building blocks to the achievement of a shared vision for South Africa,” the two organisations said in a joint statement.

A delegation from the ANC and Busa met in Johannesburg on Monday.

The ANC delegation was led by President Jacob Zuma. He was joined by party chairwoman Baleka Mbete, secretary-general Gwede Mantashe and deputy secretary-general Thandi Modise.

The Busa delegation included president Futhi Mtoba, vice-presidents Brenda Madumise and Michael Spicer, and deputy CEO Raymond Parsons.

The main focus of the meeting was what could be done to ensure that the planned presidential infrastructure summit, to be held in July, was a success.

“It was agreed that large-scale infrastructural development now needed to be urgently implemented, not only from an internal economic point of view, but also given the deteriorating global outlook,” they said.

The organisations also agreed that the participation of the private sector and co-operation with the government was essential for the summit’s success.