It is a challenge which the MLC will need to address. Levels of investment remain far below the 25 per cent of the GDP needed for sustained development. Private investment actually fell 7 per cent between 1997 and 1999. If South Africans do not invest, the expectation of foreign direct investment is rather misplaced. The MLC will need to focus on this challenge and on the need to forge a new consensus on economic policy.
Workers have one economy.
We cannot afford to move to other prosperous societies if things do not work out in our country. We have to make our economy work or we will perish. We have decided to participate in this structured bilateral with business, because we believe that there is value in pursuing solutions in every front in order to conquer challenges I have outlined. To address this crisis of joblessness and poverty requires bold leadership and concerted efforts by all parties. The 1998 Presidential Job Summit was a modest - but important step in addressing the crisis at hand.