Ocean econ­omy catches thou­sands of jobs and bil­lions in in­vest­ment’

Sunday Observer - - NEWS - eNCA

CAPE TOWN - The gov­ern­ment’s am­bi­tious project in­tended to un­lock the coun­try’s ocean econ­omy has re­sulted in in­vest­ments worth R24.6 bil­lion and cre­ated more than 6 500 jobs‚ Pres­i­dent Ja­cob Zuma an­nounced in Dur­ban on Fri­day.

He was speak­ing at the In­ter­na­tional Con­ven­tion Cen­tre about the im­ple­men­ta­tion of the Op­er­a­tion Phak­isa Oceans Econ­omy pro­gramme‚ which was launched in 2014 in a bid to find faster ways to im­ple­ment the National De­vel­op­ment Plan. Zuma said the largest con­tri­bu­tion to the to­tal in­vest- ment in the oceans econ­omy came from in­fra­struc­ture de­vel­op­ment. The gov­ern­ment also con­trib­uted R15 bil­lion. “From our own anal­y­sis‚ the to­tal ocean sec­tor con­trib­utes ap­prox­i­mately 4.4 per cent to South Africa’s GDP‚ with the largest con­tri­bu­tion com­ing from the value chains‚” said Zuma. Be­fore his re­port back‚ Zuma vis­ited the R1.4 bil­lion project to build spe­cialised tug­boats at the Port of Dur­ban. He said seven of the tug­boats had al­ready been built and about 500 jobs cre­ated.

He also an­nounced that the gov­ern­ment in­tended to es­tab­lish the KwaZulu-Na­tal Boat­build­ing Park as part of the mar­itime ves­sel in­dus­trial com­plex in the port.

“The park is planned to be a world- class space for the pro­duc­tion and re­pair of leisure and com­mer­cial boats. It will be the sin­gle largest boat build­ing fa­cil­ity in South­ern Africa‚” he said. He added that the project rep­re­sents an in­vest­ment of more than R250 mil­lion and will have the ca­pac­ity to pro­duce 150 boats an­nu­ally‚ mainly for the ex­port mar­ket.

Zuma said the Port of Dur­ban has com­pleted the outer dry dock cais­son to im­prove safety and will be key to at­tract­ing ship re­pair busi­ness to Dur­ban.

He also high­lighted other ma­jor de­vel­op­ments such as the re­fur­bish­ment of the slip­way‚ con­struc­tion of jet­ties and ac­qui­si­tion of the boat hoist at the Port El­iz­a­beth Port. This‚ he said‚ has made a sig­nif­i­cant con­tri­bu­tion to the fish­ing in­dus­try.

In ad­di­tion‚ the R660 mil­lion Bur­gan fuel stor­age fa­cil­ity re­cently com­menced op­er­a­tions at the Port of Cape Town. A cruise ter­mi­nal con­ces­sion has been awarded to the V& A Wa­ter­front Com­pany and a new Sun­rise En­ergy liq­uid pe­tro­leum gas fa­cil­ity is in op­er­a­tion at the Port of Sal­danha Bay. Zuma said the out­come of the Coastal and Marine Tourism Lab had been ap­proved by Cabi­net and will grow the tourism sec­tor. Six tourism de­vel­op­ment nodes have been iden­ti­fied in KwaZu­luNatal‚ the Eastern Cape and the West­ern Cape.

From our own anal­y­sis‚ the to­tal ocean sec­tor con­trib­utes ap­prox­i­mately 4.4 per cent to South Africa’s GDP‚ with the largest con­tri­bu­tion com­ing from value chains‚”

Newspapers in English

Newspapers from Swaziland

© PressReader. All rights reserved.