# Trade, Industry and Competition minister Parks Tau says decarbonisation, diversification and digitalisation will form the foundation of South Africa’s new Industrial Development Strategy. Delivering his Budget Vote in Parliament, Tau said the Cabinet-approved strategy aims to position the country as a leader in the green economy while boosting exports, investment and job creation. In addition, the government will support industries including steel, ferrochrome and automotive manufacturing through localisation, infrastructure investment and tariff protections. He maintained that broad-based black economic empowerment remains a key economic policy.
Tau outlines new industrial development strategy through decarbonisation