The 56-page document Patel tabled states that his department has a “cross-cutting mandate” affecting no fewer than 15 departments and will work in “strong partnership” with other departments and public service institutions including the National Planning Commission and ministries in the economic cluster.
The department’s key responsibility is economic development policy. Patel has also taken charge of regulatory bodies and development finance institutions which are key instruments of the state in its efforts to stimulate growth. These include the Industrial Development Corporation, the Competition Tribunal and the Competition Commission.
“The creation of an Economic Development Department with policy and planning functions provides further means to strengthen government’s efforts to implement its economic programme,” the document reads.
Patel’s influence will extend into the Presidency, government departments and provinces. The aim of his department is to “co-ordinate the economic development contributions of government departments, state entities and civil society”.
He also has to ensure “coherence” between the economic policies and plans of the government and state entities on the one hand, and the government’s political and economic objectives on the other.
The department will also undertake work in public-sector investment. It will work in consultation with the Department of Public Enterprises and departments dealing with state-owned enterprises.
Patel will also oversee the promotion of investment by local and foreign companies into productive investments and labour-intensive economic activity. This is in line with economic development linked to the creation of decent work.
Patel goes before Parliament’s portfolio committee today to answer questions about his strategic plans.
Source: Business Day
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