The dynamic economic landscape requires that the City leadership is regularly informed from an international, national and local perspective. The Policy, Strategy, Information & Research section is responsible for assisting the Unit in providing guidance with respect to analyses and provision of economic intelligence by interrogating existing national policies and designing local policies and strategies for economic development
The PSIR Dept. is required to operate at a high level of research into policy, strategy and the analyses of time-series data, identifying trends affecting the social and economic welfare of the City.
In pursuing these objectives the PSIR dept has planned the following deliverables for 2009/10
a) Research – A number of research outputs are planned for 2009/10 and these include:
- Annual Economic Review – this assesses the performance of the local economy over a number of years and to make inferences from same to advise a way forward for the City leadership.
- Another project relates to a study on the Environmental, Demographic and Infrastructural impacts on growth in the City.
- The re-design of the Social Accounting Matrix is a table reflecting the flow of the local economy amongst households, the private sector and local government and is a useful tool to measure the social and economic impacts of major projects and advise the City leadership accordingly.
- In partnership with the Durban Investment Promotion Agency, the Provincial Department of Economic Development, Trade & Investment KwaZulu-Natal, the Unit also contributed towards the creation of a Knowledge Portal for the region. The Unit also responds to information requests from internal as well as external sources.
b) Policy & Strategy – The Unit has just completed a draft Industrial Strategy report, the major thrust for the Industrial Land Strategy study by the Planning Unit. Work is also progressing on the finalization of an Incentive Policy for the eThekwini region. This study will outline the significant factors for investor to consider and thereby be better informed when choosing Durban as an investment location.
Another major study is the Regional Economic Strategy which entails an exercise to identify mutual benefits amongst Richards Bay, Durban and Pietermaritzburg to function as a single economic entity by optimising existing strengths. This will be presented for further deliberation into next year’s strategic planning from which the relevant findings would be acknowledged for the City’s planning.
c) Economic Intelligence – the Unit engages in fast-tracking studies on various issues affecting the local and national economy and reporting same to the City leadership to assist in their decision making and to be pro-active on issues affecting the local economy.
d) Monitoring & Evaluation – The Unit is tasked to collate and observe macro-economic data to identify trends and inform the City leadership accordingly. Other studies include the Back of Port initiative, Economic Infrastructure Spatial Theme and a Film Industry Review.