Davies was addressing a post State of the Nation media briefing held on Tuesday (4 March) by ministers of the Economic Sectors and Employment and Infrastructure Development cluster.
"IPAP has always been a three-year rolling action plan. It is not a vision document. What I can say is that inside the Department of Trade and Industry (DTI), we've done our work.
"We've prepared a draft but IPAP is not a policy document or action plan of the DTI - it's a plan for government as a whole. So we have to take it through government processes and will launch it at the appropriate time," he said.
The DTI launched the fifth iteration of IPAP, which includes specific action plans to promote industrial growth and reduce unemployment, in April last year.
According to figures released during the briefing, incentives had spurred about R143bn in private sector investments, creating around 144,000 jobs in the process.
"In the past two years, substantial diversification of the car manufacturing industry - led by the recent establishment of two new minibus-taxi assembly plants - has been recorded," said Davies
"We note the appetite for investment in the car manufacturing sector," said Economic Development Minister Ebrahim Patel.
New investments and developments in the automotive sector include BMW SA introducing a third shift at its Rosslyn plant, and Toyota SA opening a new Ses'fikile taxi assembly line in Durban, as well as a R363m investment in a parts distribution warehouse - its largest in Africa.
Patel said the South African labour market has continued to recover from the 2008 financial meltdown and in 2013, employment climbed by 653,000 jobs or 4.5%. He said employment now totals 15.2m the highest level ever. Since 2009, employment has risen by 1.3m.
"In the fourth quarter of 2013, the investment rate climbed to 19.2% of GDP compared to 18.9% a year earlier and 18.5% in the fourth quarter of 2010," he added.
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