Coega: A blue­print for eco­nomic de­vel­op­ment

Vuk'uzenzele - - General - Nosihle Shelembe

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.

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