Media Statement by Alan Winde, Minister of Finance, Economic Development and Tourism
Today, the Provincial Cabinet gave in-principle approval for the formation of a Western Cape Economic Development Agency (EDA).
The EDA is now firmly on track to open its doors on 1 April 2012. Its primary function will be to ensure coordination and partnership between all role players in the economy based on a clear agenda to promote growth, development and inclusion.
Its priority tasks will be to:
The EDA is likely to be established as a not-for-profit company. This is to ensure that it is not hamstrung by tedious, and often overly bureaucratic, government processes. It will be a small, well-resourced leadership and coordinating body, owned jointly by the Western Cape Government, City of Cape Town, business organisations and other economic stakeholders.
The formation of this new body presents an open invitation for all economic role players, within government and outside, to come together on the basis of a common agenda to address the most pressing needs that we are faced with: poverty and joblessness.
To date, the lack of a coordinated vision, strategy and agenda for the economy has resulted in:
When we came to government two years ago, it was immediately clear that to address poverty, we required a bold new plan for the Western Cape economy that would tackle the above challenges head on.
The Western Cape Economic Development Agency will do just that.
Through the formation of a single strategy and brand for the region's economy, and in partnership with business and local governments of the Province, we will create a better life for all the residents of the Western Cape.
Tammy Evans
Spokesperson for Minister Alan Winde
Cell: 082 378 2235
Tel: 021 483 4327
Follow Minister Winde at: www.twitter.com/alanwinde