DURBAN - The Manufacturing Indaba had some of the biggest names in the manufacturing industry gather at the Durban ICC.
The KwaZulu-Natal MEC for Economic Development, Tourism, and Environmental Affairs Sihle Zikalala spoke at the indaba.
The MEC highlighted that KZN is the second highest contributor the South African GVA behind Gauteng for 2017.
The real manufacturing GVA was estimated at R80,8 billion and while the GVA for Gauteng is R154,7 billion.
According to Zikalala, the structure of the KZN economy is different from the structure of the national economy because it has a bigger manufacturing sector.
Manufacturing accounts for 12,6 percent of the KZN GDP while it is only 12,6 percent of the SA GDP.
The MEC added that changes in trade, technology, organisation of production and product demand have an impact on the development of manufacturing activities.
Stavros Nicolaou, a Senior Executive for Aspen Pharmacare was also one of the keynote speakers at the indaba. Nicolaou said that more people need to become manufacturing actvist and that manufacturing should be a the centre of South Africa's economic policy.
He added that both manufacturing and industrialisation play a critical role in the investment drive the South African President has embarked on.
The Aspen Pharmacare executive also said that there needs to be a change in South African society. We need a society that buys locally said Nicolauo. "Let's export products and keep the jobs local," said Nicolaou.
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