Members wanted to know why TIA had to apply to National Treasury for approval for each of its project investments. The Department answered that because public funds were being used for possibly high-risk investments, the National Treasury agreed that they would evaluate TIA's investments on a case-by-case basis, rather than give them blanket approval to pursue these investments. Members noted that the Department said very little on the progress made with the Bio-economy strategy. The Department indicated that the strategy would be finalized by the end of November 2011. They assured the Committee that despite the strategy not being finished, work was still taking place in implementing the objectives of the strategy.