Localisation to be used to create early-stage demand in targeted sectors – Tau

While proclaiming industrial policy to be the “centre piece” of the government of national unity’s economic development strategy, new Trade, Industry and Competition Minister Parks Tau indicated he would be leaning on local procurement to create early-stage demand in targeted sectors. In his maiden Budget Vote address to Parliament, attended by his predecessor Ebrahim Patel, Tau said industrial policy was the anchor around which the Department of Trade, Industry and Competition (dtic) would deploy trade instruments, incentives, tools and regulation, including any support for new energy vehicle production and green industrialisation.