Deputy President, Ministers, Deputy Ministers
Representatives of BUSA and BBC, 
Senior officials
Ladies and gentlemen 

It is a pleasure for me to welcome you to our annual Presidential Business Working Group meeting.

The National Development Plan enjoins us to work together to promote inclusive growth and development in our country. This makes the Working Group an important platform of engagement in the ongoing quest for a better life for all our people.

The last time we met here at the Sefako Makgatho Presidential Guest House, the business delegation was part of a meeting we had called to discuss attacks on foreign nationals in our country. We all condemned these attacks and pledged to work together to promote peaceful coexistence between citizens and foreign nationals, especially African nationals.

Today we have a gift for all our delegates, miniature South African and African Union flags as well as CDs with the AU and South African anthems. These should serve a reminder of the fact that our country is an integral part of the continent. We reiterate our call for business to fly both flags at their premises to promote our true African identity as a people.

Today is an opportunity to reflect on our achievements, areas for intervention, as well as envisaged commitments since the last meeting in 2014. 

Significant progress has been noted in a number of areas particularly on energy, education, industrialisation, regulatory measures, as well as other areas that need intervention for our economy to prosper. 

We also welcome the engagement on the progress to be presented by government on the 9 Point Plan endorsed by Cabinet, for which we solicit appropriate support from business. 

The nine point plan consists of the following:
a. Revitalisation of the agriculture and agro-processing value-chain;
b. Advancing beneficiation  and adding value to our mineral wealth; 
c. More effective implementation of a higher impact Industrial Policy Action Plan;
d. Unlocking the potential of SMMEs, co-operatives, township and rural enterprise; 
e. Resolving the energy challenge;
f. Stabilising the labour market;
g. Scaling-up private-sector investment and
h. Growing the Ocean Economy;

We will also intervene in the following cross-cutting areas to reform, boost and diversify the economy:
i. Science, technology and innovation
ii. Water and sanitation
iii. Transport infrastructure
iv. Broadband rollout 
v. State owned companies. 

Furthermore, the reflection on our economic outlook is of outmost importance as we seek appropriate interventions for our economy. For us to achieve major milestones, certain measures have to be put in place, including the institutional framework for this engagement. 

In this regard, I have considered a reporting mechanism through quarterly reports by the work streams which will culminate in a report through the Forum of South African Directors General, (FOSAD).

Furthermore, I have initiated a feasibility study for an initiative aimed at supporting increased investment in line with the needs of the National Development Plan. 

The objective of the study is to ascertain an appropriate mechanism to simplify and streamline regulatory procedures for investment and to strengthen the approach to investment promotion, facilitation and aftercare. Initial consultative workshops were conducted towards the end of June 2015, and further engagements continue to take place.
 
The draft discussion paper for the initiative is complete and its implementation plan is currently being developed. An announcement with further details will be made at an appropriate time.

These measures will provide for continued engagement in all identified areas.

I would like to reiterate my commitment and implore you, our social partners, to fully engage with us in our quest for the improvement and growth of our economy. 

We look forward to receiving all the reports and expect fruitful deliberations today.

I thank you.