Coega: A blueprint for economic development
AN EASTERN CAPE industrial development zone is setting the pace in global competitiveness through world-class infrastructure, tax incentives, rebates and a duty-free zone.
Located in the Nelson Mandela Bay Metropolitan Municipality, Coega – South Africa’s first and largest industrial development zone (IDZ) – is a world-class facility that ticks all the boxes when it comes to economic development and facilitating cross-border trade.
Coega IDZ is one of several efforts by government to create economic development and growth opportunities for the people of the Eastern Cape.
Developed and managed by the Coega Development Corporation (CDC), the Coega IDZ s aimed at driving local and foreign direct investments in export-oriented industries, positioning South Africa as the hub for Southern African trade.
The 11 000 hectares of land is divided into different zones and boasts power stations, road linkages, water and telecommunications, as well as a rail network.
According to Coega’s Business Development Manager, Vuyokazi Gwabeni, the value of private sector investment in 2016/17 was R6 996 billion.
Gwabeni said the CDC and the Nelson Mandela Bay Logistics Park has managed to attract 40 operational investors, of which 24 are South African companies.
At the end of the 2016/17 financial year, the CDC had created over 7 243 operational jobs within the Coega Special Economic Zone.