The Special Economic Zone (SEZ) Programme, created to accelerate industrialisation in the country, has attracted billions of rands to South Africa in investments according to the minister of trade and industry, Dr Rob Davies.
In a statement released by the Department of Trade and Industry (dti) yesterday, Davies said: “There has been a substantial increase in the number and value of secured but not yet operational investments. The total number increased from 47 to 72, while total value increased [from] R19.7 billion to R41.2 billion. At least 13 of these investments are expected to be operational within the next 12 months, as soon as infrastructure development is completed.”
He said that the programme was a critical tool for attracting foreign direct investment (FDI), creating jobs, establishing new industrial centres as well as developing and improving on existing infrastructure.
Dti spokesperson Sidwell Medupe told FTW Online that there was an even spread of international and domestic investors in SEZs. At the Coega IDZ (industrial development zone) 50% of its investors are international and 32% domestic, while 11% are joint ventures between international and domestic investors and 7% local joint ventures.
There are currently eight designated SEZs located in Saldanha Bay, Dube Trade Port, Richards Bay, East London, Coega, Musina-Makhado and the soon-to-be launched Maluti-a-Phofung in the Free State. The final SEZ, located at the OR Tambo International Airport precinct, has been designated but is not yet operational.
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