Despite recent moves to cut red tape – especially for small and medium businesses – analysts and trade experts say the Department of Trade and Industry and Competition (DTIC) is actively ‘kneecapping’ investment in South Africa by trying to force businesses to do things its way.
Sunday Times
MacKay said that these contracts force businesses into “frightening commitments” for three years, like investment, price control and employment commitments. The same thinking is behind the government’s push for localisation and other trade matters, MacKay said, adding that this is a fundamental ideology within the department and the government as a whole that will continue to deter investment.The government at least seems to be aware of this particular stumbling block at some level, with recent moves from the department cutting back on some of these requirements.
Wainwright cited an ‘avalanche’ of regulations, particularly for small and medium-sized businesses, which he said was strangling the economy. The two also raised concerns about the precarious state of Eskom and the continued delays in procuring additional power from independent power producers.
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