Economic Development

National Department Budget for 2016-17

Vote purpose

Promote economic development policy formulation and planning for the benefit of all South Africans.

Mandate

The Economic Development Department was established in 2009 and has assumed responsibilities relating to the creation of decent employment through inclusive economic growth, including the implementation of certain aspects of the national development plan, the new growth path and the national infrastructure plan as captured in outcomes 4, 6 and 7 of government’s 2014-2019 medium term strategic framework.

The department is also responsible for five public entities, comprising three regulatory bodies and two development finance institutions. These are: the Competition Commission, the Competition Tribunal, the International Trade Administration Commission of South Africa, the Industrial Development Corporation of South Africa and the Small Enterprise Finance Agency.

In line with these responsibilities, the department’s mandate includes the administration of the following legislation:

  • the Industrial Development Act (1940)

  • the Competition Act (1998)

  • the International Trade Administration Act (2002)

  • the Infrastructure Development Act (2014).

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