Economic Development

National Department Budget for 2017-18

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 growth. This includes the implementation of certain aspects of the National Development Plan (NDP), the new growth path and the national infrastructure plan, as captured in outcome 4 (decent employment through inclusive growth), outcome 6 (an efficient, competitive and responsive economic infrastructure network) and outcome 7 (comprehensive rural development and land reform) of government’s 2014-2019 medium-term strategic framework.

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