Strategy also calls for efficient functioning and inclusiveness of the industrialization
decision-making process. It is therefore imperative that these singular and
complementary roles be formalized and institutionalized.
The Action Plan outlines the specific functions of these bodies. In particular, it calls
for the reconfiguration of the Industrial Development Forum to consist of Member
States, the private sector, think tanks and other stakeholders. The technical capacity
of the Secretariat should be substantially enhanced to cope with the heightened
coordination and monitoring responsibilities. To this effect, the Action Plan strongly
recommends the establishment of an Industrial Development and Trade Directorate
within the Secretariat to provide guidance to implementation. In line with this, the
industry related functions currently residing in different units would need to be
structurally aligned.
The Action Plan Framework (Part II) outlines the numerous actions and policy
interventions embodied in the goals and objectives of the Strategy. Without such
framework and direction, there is obvious risk that the interventions, while competing
for financial, technical and time resources, may not impact synergistically or result in
unpredictable outcomes that will inhibit industrial and overall development of the
region. To this end, the Action Plan utilizes a number of guiding principles on form
and content.
Among the most important principles are:
- A developmental state perspective as an essential driving force for advancing
industrialization, while recognizing the critical role of the private sector.
- The strengthening of trade and industry capacity across Member States to
support and manage the application of cohesive industrial policy tools.
- Strong complementarity and interdependence of the three strategic pillars of
the Industrial Strategy.
- The recognition that targeted outcomes are a function of the quality of
deployed assets (physical, human and technological) and policies.
- Prioritization of actions embracing the three growth paths identified by the
Strategy, namely: agro-processing, minerals beneficiation and manufacturing
value chains development.
- The Action Plan also attaches equally high priorities to removing the three
binding constraints indicated in the Strategy (i.e. infrastructure, skills and
finance). The prioritization of these focus areas arises from their combined
positive impact on deepening regional integration and speeding up the tempo
of industrialization.
- The critical need for initiation and sustainability of industrial clusters and
regional value chains and their integration into global value chains, including
upgrading and deepening of existing value chains.
8
Vers. 11.03.2017