President holds discussion on intensifying infrastructure investment

Tuesday’s deliberations follow President Ramaphosa’s statement in the 13 February 2020 State of the Nation Address that infrastructure development is at the centre of government’s inclusive growth and job creation agenda.

President Cyril Ramaphosa is currently meeting with Chief Executive Officers of commercial banks and leaders of multilateral development finance institutions to assess progress in efforts to intensify infrastructure investment.

Tuesday's deliberations follow President Ramaphosa's statement in the 13 February 2020 State of the Nation Address that infrastructure development is at the centre of government's inclusive growth and job creation agenda.

Acting on the commitments made in the State of the Nation Address, President Ramaphosa invited public sector executives, financiers including multilateral development banks, development finance institutions, organised business and infrastructure-oriented industry players to discuss expansion and funding of public sector infrastructure.

"The discussions at Tuynhuys, Cape Town, will also reflect on the implementation of urgent reforms identified by the government as prerequisites for reviving infrastructure investment which has been subject to low growth for the past decade.

"This inaugural meeting seeks to enhance collaboration among stakeholders with a view to setting in motion an aggressive public sector build a programme to create jobs, realise inclusive growth and facilitate spatial justice," the Presidency said in a statement on Monday.

The meeting will also be apprised of the state of readiness of the Sustainable Infrastructure Development Symposium set to be held in May 2020.

To fast-track progress on a clear list of urgent reforms, President Ramaphosa has established three specialized units in the Presidency which are the Investment and Infrastructure office, Project Management Office and Policy and Research Services.

These specialized units seek to address obstacles and improve government delivery.

"These units are working closely with the Presidential Infrastructure Coordinating Commission, InvestSA and the Ease of Doing Business Task Team to remove impediments to investment and growth and ensure that government meets its goals of achieving an equitable society," said the Presidency.

(With Inputs from South African Government Press Release)