Prof Mdwaba presentation to the IOE

The continued lack of productivity-enhancing national policy and productivity culture as essential instruments for economic transformation undermine countries’ (particularly emerging and developing) capability to unlock their productivity potential for sustained economic growth and competitiveness.
Further to this, the lack of commitment and consistent measurement and evaluation of a full set of factors that determine productivity and the key drivers of long-term competitiveness impact our long-term economic growth, therefore, our economy to create productive and decent jobs.
To change these, successful economies have integrated into their economic policies an emphasis on infrastructure, skills, research and development, and support those left behind, and these are more successful compared to those which focus only on traditional factors of growth.
The private sector (organised business, organised labour and academia) are positioned and given the responsibility to drive the productivity agenda, including culture and accountability thereof in partnership with government and civil society.
As a result, a holistic approach to unlocking the productivity potential and capability to sustain economic growth and improve competitiveness is essential for long-term economic wellbeing.