The revised Industrial Policy Action Plan (IPAP2) was a radical shift to grow a developmental economy by ensuring that investment targets productive sectors of the economy to arrest the decline in manufacturing and accelerate employment creation. Within the context of the New Growth Path, IPAP2 focused on value-added sectors with the potential for high employment creation and growth multipliers. IPAP also correctly identifies that monopolistic pricing of certain minerals and most semi-processed raw materials such as steel and chemicals in the form of import parity pricing has negatively affected the development of industry within South Africa, which is a resource-rich country.