Partnerships necessary to overcome economic crisis

Speaking during a panel discussion at the World Economic Forum in Cape Town, Davies said it was important for the country to be competitive and that business had a critical role to play in this regard.

“We need to be competitive as a nation to attract investment, create wealth, jobs, build skills and alleviate poverty. Making a country competitive is tough even at the best of times and it is even tougher when dealing with a recession. Business has a critical role to play,” he said.

Davies said he was encouraged by the State of the Nation Address delivered by President Jacob Zuma last week that called for reconciliation and nation building.

He also said that business had many skills it could bring to the table but there was a need for business to communicate in a collective manner.

“We need to improve the way in which we engage. We can never of course have a single voice but business can do a lot more to be a bit more collective in the way we engage,” he said.

Deputy President Kgalema Motlanthe said that the country could draw lessons from former President Nelson Mandela's character.

“His strength is self confidence. As a nation we can decide whether we want to talk ourselves into a depression or act confidently as people capable of overcoming problems,” said Motlanthe.

President Jacob Zuma had earlier said that the core elements of South Africa's response to the crisis is the Expanded Public Works Programme that is earmarked to provide job opportunities to around four million people over the next five years; increasing social grants and implementing the rural development strategy.

Article published courtesy of BuaNews