Pretoria - The new growth path, aimed at providing a policy framework for a labour intensive growth strategy, is currently being finalised within government.
Speaking at the 15th Nedlac Annual Summit held in Johannesburg, Deputy President Kgalema Motlanthe said the new growth path is expected to identify the policy tools available to support employment growth across the economy.
Intense engagement to find an implementable strategy and the full backing of government's social partners were needed before its launch.
"As government, we hope that the new growth path will provide another stepping stone towards the shared vision that we will require to address the structural constraints of the South African economy. [It] will define the nature of the South African jobs and equity challenge and address labour-intensive growth," he explained.
In March, Economic Development Minister Ebrahim Patel said government had embarked on a shift to a more labour-absorptive economy and the new growth path would include a focus on manufacturing, infrastructure development, rural development and agro-processing, and the "green" economy.
At the time he said the new growth path would recognise the crucial role of the private sector in creating new jobs.
Motlanthe said there were a number of challenges in achieving a more labour-intensive growth path in the country, suggesting that social partners could do more to contribute towards achieving a higher participation rate and a better utilisation of labour.
"An obvious but necessary starting point will not only be to acknowledge the importance of finding solutions, but also being prepared to rise above partial interests in constructing shared solutions that are in the public interest," said the Deputy President.
Government earlier this year launched the the Industrial Policy Action Plan 2 (IPAP), which seeks to respond to various economic and industrial imperatives and to address weaknesses that exist in the South African economy.
The Industrial Policy Action Plan's vision is to have an industrialisation trajectory that is responsive to the promotion of more labour-absorbing industrial sectors, with an emphasis on tradable labour-absorbing goods and services and economic linkages that catalyse employment creation, said Motlanthe.
It also aims to promote a broader based industrialisation path that is characterised by greater levels of participation of historically disadvantaged people and marginalised regions in the mainstream of the industrial economy.
Also speaking at the summit, President of Business Unity South Africa Futhi Mtoba said the positive energy shown during the FIFA World Cup must be channeled into economic growth, employment and transformation.
"We must leverage the lessons we learnt on walking the talk more effectively in planning, decision-making and implementation for the benefit of all South Africans, especially relating to the provisioning of infrastructure," she said.
"If economic growth and job creation are priorities, then attracting foreign direct investment into labour absorbing ventures in South Africa must be high on the agenda."
