Economic Development

National Department Budget for 2018-19

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

The department is also responsible for five public entities, comprising three regulatory bodies (the Competition Commission, the Competition Tribunal and the International Trade Administration Commission of South Africa) and two development finance institutions (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 Corporation Act (1940)
  • the Competition Act (1998)
  • the International Trade Administration Act (2002)
  • the Infrastructure Development Act (2014).

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