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Cape Town - The low level of investments is a key constraint to economic growth, President Jacob Zuma said on Tuesday at his first State of the Nation address of his second term.
Talking with a strained voice, the president said the government is determined to work with the private sector to remove obstacles to investment.
"We would like to see the private sector showing as much confidence in the economy as the public sector."
He said the government will continue to engage business in promoting inclusive growth and to build a more prosperous society. "In this regard, I will soon convene a meeting of the Presidential Business Working Group."
Six work streams were established after the last meeting of the Working Group last year, and these have been discussing solutions to various obstacles to doing business in South Africa, he said.
"These issues were also raised by owners and CEOs of major companies that I hosted in three separate, intensive working sessions at the Mahlamba Ndlopfu residence in November and December last year.
"The next meeting of the Working Group will take forward the partnership for inclusive growth and sustainable development."
He said the private sector has responded positively to the introduction of the employment tax incentive.
"In only five months, there are 133 000 employees who have benefited and 11 000 employers who have participated in the incentive scheme."
Talking with a strained voice, the president said the government is determined to work with the private sector to remove obstacles to investment.
"We would like to see the private sector showing as much confidence in the economy as the public sector."
He said the government will continue to engage business in promoting inclusive growth and to build a more prosperous society. "In this regard, I will soon convene a meeting of the Presidential Business Working Group."
Six work streams were established after the last meeting of the Working Group last year, and these have been discussing solutions to various obstacles to doing business in South Africa, he said.
"These issues were also raised by owners and CEOs of major companies that I hosted in three separate, intensive working sessions at the Mahlamba Ndlopfu residence in November and December last year.
"The next meeting of the Working Group will take forward the partnership for inclusive growth and sustainable development."
He said the private sector has responded positively to the introduction of the employment tax incentive.
"In only five months, there are 133 000 employees who have benefited and 11 000 employers who have participated in the incentive scheme."
