Parliament, Wednesday, 17 June 2026 - The Select Committee on Economic Development and Trade has welcomed the initiative aimed at removing unnecessary bureaucracy and creating a more conducive environment for investment, economic growth and job creation.
The committee received a briefing today from the Department of Trade, Industry and Competition (the dtic) on its 2026/27 annual performance plan, during which significant emphasis was placed on the proposed Omnibus Bill that is hoped will ease the cost of doing business, reduce regulatory burdens and accelerate investment.
The Chairperson of the committee, Ms Sonja Boshoff, said South Africa’s economy cannot afford heavy regulatory processes that unnecessarily delay investment decisions, and thereby alienate small and medium enterprises.
She said: “We welcome this DTIC intervention but it is not lost on us that legislation alone will not guarantee economic growth. The true test of the Omnibus Bill will be whether it delivers measurable improvements for businesses on the ground.”
The DTIC informed the committee that Omnibus Bill was a central component of its broader strategy to attract investment, stimulate industrialisation and support economic growth.
The committee expects clear indicators against which the success of the Bill can be measured once implemented.
Ms Boshoff said regulatory reform must be accompanied by continued efforts to address other structural constraints that affect economic growth, including such sectors as logistics, infrastructure backlogs, municipal service delivery failures, water security challenges and energy reliability.
The committee considers future legislative proposals arising from the Omnibus Bill process, and that it will continue to exercise robust oversight to ensure that reforms result in tangible benefits for investors, businesses, workers and communities.
“South Africa requires an environment where economic activity can flourish, investment can be unlocked and jobs can be created. Any reform aimed at achieving these objectives deserves careful consideration and rigorous scrutiny to ensure that it delivers meaningful outcomes rather than simply adding another layer to the legislative framework,” concluded Ms Boshoff.
ISSUED BY THE PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE SELECT COMMITTEE ON ECONOMIC DEVELOPMENT AND TRADE, MS SONJA BOSHOFF.
For media inquiries or interviews with the Chairperson, please contact the committee’s Media Officer:
Sibongile Maputi (Mr)
Cell: 0810526060
Email: smaputi@parliament.gov.za
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