THE North West province will convene an indaba to determine whether the provincial economy is officially out of recession, Premier Maureen Modiselle said yesterday.
"Our economic growth remains challenged by infrastructure and investment backlogs, inappropriate growth skills, shifting investor patterns, (small, medium and micro enterprises) unfriendly regulatory framework as well as the cost and competitiveness of business," she said during the opening of the provincial legislature in Mafikeng.
Modiselle said the province was pursuing a development zone-based strategy for the manufacturing sector, which would reduce the dependency on the primary sectors of agriculture and mining.
"Our success in the development of the manufacturing sector depends on us ensuring that the mandates of development finance institutions are clear and truly developmental," she said.
She said it had to also be ensured that the programmes contributed to decent work outcomes, achieved developmental needs and sustainable livelihoods, and accelerated SMME development.
Modiselle said the economy was inextricably linked to the capacity of small and medium enterprises to flourish and the ability to retain established businesses within an expansionary framework. - Sapa