Localisation will aid in creating a more inclusive economy and create more opportunities for entry into the industry sector. Besides the "local for local markets" notion, it is paramount to build local industry capacity for the export markets.
If the government were to offer international companies a tax incentive to set up industry plants, allowing them to take advantage of preferential procurement by advancing localisation, it would be expected of them to have a certain level of broad-based black economic empowerment (BBBEE) recognition.
"Some of this, under the new [Broad-based Black Economic Empowerment] scorecard, will have to be earned in some form of enterprise and supplier development," he said, adding that international companies needed to include black suppliers in their value chain.
HV Promotions has exclusive access to an extensive database of buyers and suppliers in the South African industry sector, as well as a tested methodology of business matchmaking between these parties and can thus assist you in industry for sustainability while supporting "Localisation" in the country.