Local economic development and local government : strategic considerations.
The study draws from both domestic and international developments in the area of Local Economic Development. Various key focus areas pertaining to Local Economic Development are explored to develop an effective and integrated LED approach for local government in South Africa. Key focus areas of the study which seek to address the main question of the study include regulatory and legislative measures, best practices and standards, major economic and policy developments in the country and a case study on the impact of mining industry in South Africa on Local Economic Development. Mining operations and strategies by other countries, particularly China are discussed in great detail to draw lessons for future implementation and improvement in integrating the mining sector in LED initiatives in South Africa. South Africa as an emerging economy and a developing country should position itself favourably to harness the economic growth potential resulting from foreign direct investments. The local government is the most appropriate sphere of government to facilitate and promote investments and business growth and should play a critical role in driving LED and promoting local municipalities as attractive investment destinations for viable and sustainable business investment and expansion. The South African local government should embrace new developments in both developed and developing countries where major strides are made to promote and facilitate investments through collaboration and investment incentive packages.