South Africa has disclosed a new industrial plan, which aims to generate 2.4 million jobs by the year 2020.

Mr. Rob Davies, Trade and Industry Minister, said, "It is estimated that the new Industrial Policy Action Plan (IPAP) will result in the creation of 2,477,000 direct and indirect decent jobs over the next ten years."

Mr. Rob also said that the industrial plan, which comes into effect by April this year, would concentrate on promoting industrial yield in the country.

Fortifying the Industrial Development Corporation (IDC), reviewing procurement legislation and effectual execution of trade plans will be the key regions under the plan.

Davies also said that country's industrial productivity is likely to augment as the IPAP would encourage procurance of local goods and services.

The action plan is also directed at encouraging segments like metals fabrication, capital and transport equipment, green and energy saving industries and agro-processing units. (With Input from Agencies)