Pretoria - Cabinet has approved the Department of Trade and Industry's (dti) progress report on the Industrial Policy Action Plan (IPAP2).
Deputy CEO of Government Communication and Information System, Vusi Mona, said Cabinet had noted the progress report for the period April to September which forms part of scaling up government's efforts to promote long term industrialisation as well as diversification beyond the country's reliance on traditional commodities.
The purpose of the plan is to expand production in value-added sectors with high employment and growth multipliers that competed in export markets as well as competed in the domestic market against imports.
"Cabinet noted the six-month report and approved the report to be tabled in Parliament. The report highlights key achievements to date, encompasses progress and outputs with respect to the implementation of the four transversal interventions and 13 sector strategies outlined in 84 date-bound Key Actions Plans (KAP's) set out in the IPAP2 document," said Mona.
The plan is subject to continuous monitoring as well as evaluation by government and interrogation by Parliament while also being bound to quarterly reports and other deliverables.
The report identifies constraints and challenges which may impede the implementation of the IPAP2 in the context of global and domestic economic trends.
"In addition, the IPAP2 will be refined and aligned with the new Growth Path for continued implementation in 2011," said Mona on Thursday.
The dti said it would release further details about the report next week.
