Gauteng Premier David Makhura is looking to boost the economy through 10 high growth sectors that include the industrialisation of cannabis.
Johannesburg – Gauteng Premier David Makhura on Tuesday announced his administration’s ambitious plan to grow the province’s economy through 10 high growth sectors that include the industrialisation of cannabis.
Delivering his State of the Province Address at the Sefako Makgatho Health Sciences University in Ga-Rankuwa, Tshwane, Makhura unveiled the provincial government’s new plan of action, Growing Gauteng Together, which he promised will grow the economy of the country’s economic hub to R2 trillion by 2030.
”Growing Gauteng Together is about building a sustainable future for all,” he said.
According to Makhura, implementation plans for the 10 high growth sectors will be developed with the relevant national government departments, state-owned enterprises, development finance institutions and business leaders.
Among these high growth sectors are energy, with a focus on new technologies and a diverse mix, transport and logistics, information and communication technology, media and the digital economy, tourism and hospitality, agri-food and business as well as construction and infrastructure.
Makhura also identified the automotive, aerospace and defence sectors, financial services and cultural and creative industries.
He said the industrialisation of cannabis would also include agro-processing for medicinal purposes, health and skin care products.
Makhura said no country could afford not to tap into the industrialisation of cannabis.
In 2018, Deputy Chief Justice Raymond Zondo decriminalised the cultivation for private use of cannabis for adults’ personal consumption and gave Parliament 24 months to correct the constitutional defects in the Drugs and Drug Trafficking Act of 1992 and the Medicines and Related Substances Control Act of 1965.
Makhura continued: ”Based on the disciplined execution of our plan of action, we can achieve impressive results in the next decade.”
Makhura promised that the plan could see the Gauteng economy reaching R2 trillion by 2010 prices and create 3.1 million jobs through specific sectoral and spatial interventions.
Last year, Statistics SA stated that Gauteng contributed R1.59 trillion (34%) to the country’s GDP (gross domestic product) of R4.65 trillion (current rate).