We raised the matter of an agreement that was reached at the Growth and Development Summit, which was that we should access a certain part, 5% was mentioned, of the funds in the hands of the institutional investors, domestically, for investment in the real economy. That being an agreement of the Growth and Development Summit, we will engage South African business to see how we can make that a practical thing. So, there is a different set of engagement with local business.
Thabo MbekiWe can't treat the matter of black economic empowerment as just the redistribution of existing wealth. It really has to focus on new investment, on growth, on development of employment and so on and so on.
Thabo MbekiWe identified various sectors of the economy, which we said were growth sectors. I have mentioned tourism. We said, for instance, agro-business. We grow a lot of food and fruit and things like that. It must be possible to process those.
Thabo MbekiWe need to do a lot of restructuring of the existing ports, particularly Durban. The separation of oversight and regulation from operations in the port, the possibility of bringing in private investors, to put in new investment to build capacity in the port. So, the restructuring of the ports will take place like that.
Thabo Mbeki