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Ramophosa highlights the importance of producing and purchasing local goods to boost SA’s economy – SABC News

President Cyril Ramaphosa stressed the importance of locally producing and buying to boost the country’s economy at a time when the COVID-19 pandemic is on its knees.

Ramaphosa gave a virtual speech at the 10th Buy Local Summit and Exco in Sandton, Johannesburg on Tuesday.

Video: Chairman Cyril Ramaposa speaks at the Buy Local Summit.

The summit aims to inform, educate and equip entrepreneurs to produce locally, create jobs and rebuild the economy.

The president said this will help revive South Africa’s ailing economy.

Ramaphosa says the epidemic has exposed South Africa’s production and distribution capabilities…

“The economic damage caused by the COVID-19 pandemic is placing greater demands on our economy to provide employment and livelihood opportunities. The pandemic has exposed the fragility of global supply chains and the enormous capacity of South Africa to innovate and adapt in manufacturing.

In just two years, working together and inevitably, we have been able to build local production capacity for ventilators, hand sanitizers, medical face masks and gloves, as well as vaccines, therapeutics and anesthetics,” said Ramaphosa.

He says local production inspires national pride, supports business growth, creates jobs and sustains livelihoods.

“Local production is important because it inspires national pride for the goods, services and products made on our native land. We support the growth of SMEs and the expansion of large enterprises. It creates jobs and sustains livelihoods. Local production supports our manufacturing sector. This allows us to build the necessary infrastructure and improve our services,” says Ramophosa.

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Ramophosa highlights the importance of producing and purchasing local goods to boost SA’s economy – SABC News

Source link Ramophosa highlights the importance of producing and purchasing local goods to boost SA’s economy – SABC News

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