Johannesburg, July 19 (IANS): South African President Cyril Ramaphosa has pledged that the Government of National Unity (GNU) will advance three strategic priorities over the next five years in a bid to promote economic growth and reduce poverty.

"We have decided to place inclusive economic growth at the center of the work of the GNU and at the top of the national agenda," Ramaphosa made the remarks Thursday night while addressing the Opening of Parliament at Cape Town City Hall.

The three strategic priorities include driving inclusive growth and job creation, reducing poverty and tackling the high cost of living, and building a capable, ethical and developmental state, Xinhua news agency reported.

The president said the new South African administration will continue to pursue programs that encourage broad-based black economic empowerment, employment equity and support to small and medium-sized enterprises.

"We will increase funding to land reform, prioritize the transfer of state land and improve post-settlement support by strengthening the institutional capacity of responsible structures," said Ramaphosa, who also vowed to forge a new inclusive growth path by pursuing a massive investment in infrastructure in the next five years.

To create more jobs for South Africans, the government will focus on processing minerals to export finished products rather than raw commodities, according to the president.

Ramaphosa pledged to expand investments in renewable energy for inclusive growth as the country has some of the best solar and wind resources in the world.