With the fourth industrial revolution taking place globally,
South Africa cannot go on with business as usual, according to the
Industrial Development Think-Tank (IDTT), which is calling on the
government to restructure the economy.
The IDTT, which is housed at the Centre for Competition, Regulation and Economic Development at the University of Johannesburg, is an initiative of the department of trade and industry to assess policy on the structure of the economy.
“Countries develop by changing the structure of the economy to move from sectors of low to high productivity and complexity [sectorial transitioning] and within sectors through upgrading to higher value-added activities [sectoral deepening]”, the IDTT said in a report released earlier this month.
The minister of trade and industry, Rob Davies, concurs.
The IDTT, which is housed at the Centre for Competition, Regulation and Economic Development at the University of Johannesburg, is an initiative of the department of trade and industry to assess policy on the structure of the economy.
“Countries develop by changing the structure of the economy to move from sectors of low to high productivity and complexity [sectorial transitioning] and within sectors through upgrading to higher value-added activities [sectoral deepening]”, the IDTT said in a report released earlier this month.
The minister of trade and industry, Rob Davies, concurs.
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