Tag Archive | infrastructure development capital

Private sector needed for recovery, says Patel

According to the minister of economic development Ebrahim Patel, the infrastructure development, described by President Zuma in his state of nation address (SONA),  has to be driven by public-private partnerships.

During this speech, President Zuma promised to make 2012 “the year of infrastructure development”.   Minister Patel has followed this up in his response to the presidential  speech by stating that during this year he will table before Parliament legislation to be known as the Infrastructure Development Bill. What stage this draft has reached is not known.

Minister Patel said it was the task now of his department to assist in project management by reducing regulatory delays and the resolution of land servitude issues and the new legislation would pick up such “challenges” and address them. , Speaking in response to SONA, minister Patel told parliamentarians that the draft Bill would also help co-ordinate the issuing of permits and licences and contribute to better “co-operative governance” between state and private sector bodies.

Minister Patel said a small business funding agency was about to be launched in a few days with some  R2bn available for business development loans.

Returning to the new legislation, he said he hoped that the measures introduced by an Infrastructure Development Bill would contribute further to the ability of the department of economic development to monitor development taking place in the country.

He further pointed, as did President Zuma, towards an economic development summit to be held shortly in South Africa.

Posted in Cabinet,Presidential, Finance, economic, Labour, Land,Agriculture, Mining, beneficiation, Public utilities, Trade & Industry, Transport, Uncategorized0 Comments


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