16.4 Vision and Development Objectives of South Africa’s Bioeconomy

The vision for the South African bioeconomy entails it becoming a significant driver of the country’s economy by 2030, both in terms of its share and its contribution to gross domestic product (GDP). Unlike a narrow focus on fostering the biotechnology sector, the new strategy aims to establish a comprehensive bioeconomy, incorporating various cross-sectional technologies and knowledge areas. Key among these are information and communication technology (ICT), nanomaterial research and manufacture, bioentrepreneurship, social sciences, and intellectual property management. In a departure from a singular approach, the South African bioeconomy strategy adopts a dual perspective, encompassing both a technology push and a market-pull strategy. This holistic approach is designed to not only bolster the nation’s technological landscape but also to stimulate economic growth. The strategy places a specific emphasis on cultivating a greener economy, concurrently fortifying the country’s global competitiveness. The envisioned outcome involves the creation and expansion of novel industries, thereby generating sustainable employment opportunities and advancing food security. The strategy further outlines objectives related to aligning scientific research with national priorities and regulations. Additionally, it underscores the importance of enhancing public understanding of technologies associated with the bioeconomy. These concerted efforts are aimed at ensuring the bioeconomy’s positive impact on socio-economic development in South Africa while fostering environmental sustainability and competitiveness on the global stage.