South African President Jacob Zuma will chair an Inter-Ministerial Committee on Investment which will co-ordinate 40 priority investment projects across government, says Minister in the Presidency for Planning, Monitoring and Evaluation Jeff Radebe.

Briefing the media here Monday following a Cabinet Lekgotla (gathering) held last week, he said the 40 projects included agro-processing and agri-parks, energy and infrastructure, manufacturing and services projects.

“These projects were selected based on their having a high-scale economic impact linked to the Nine-Point Plan, being able to take-off within the next two years and able to crowd-in further investment and community benefits,” Radebe said.

he added that the Cabinet Lekgotla reflected on the implementation of the Nine-Point Plan which is aimed at growing the South African economy.

With regards to resolving energy challenges in the country, he said the Department of Energy would complete the Integrated Energy Plan and Integrated Resource Plan for Electricity.

Other strategic decisions taken by the Cabinet to secure higher impact implementation of the Industrial Policy Action Plan include having the Department of Public Enterprises and National Treasury to consolidate procurement for locomotives into a single institution, State-owned logistics group Transnet, to ensure efficiency and compliance with the localisation requirements.

Radebe said the evaluation of financial incentives for businesses would be finalised to enhance more inclusive growth. The South African Reserve Bank, the National Treasury, South African Revenue Service (SARS) and Statistics South Africa would identify and check illicit financial flows.

Another strategic decision, he said, was to introducie legislative amendments to implement the 30 per cent set-asides (a new Procurement Bill developed by National Treasury) by March 2017 and unlock the potential of Small, Medium and Micro-sized Enterprises (SMMEs), co-operatives and township and rural enterprises.

He said the new Preferential Procurement Regulations must also be implemented by the end of August 2016 as an interim measure to this radical intervention.

As for the Information Communication Technology (ICT) Policy, Radebe said this would be finalised and approved to fast-track the implementation of the South African Connect Strategy to connect schools, health facilities and government offices. “A Broadband War Room will be established to accelerate implementation,” he added.