Atlantis’ hub for economic growth
PRESIDENT Cyril Ramaphosa officially launched the Atlantis Special Economic Zone (SEZ).
The 124.5 hectare area has been designated as a hub aimed for the establishment of green technologies in the province.
SEZs are used by the government to drive industrial and economic development with cluster industries from a particular sector located in geographically designated areas to get the benefits of scale and co-location. They are supported by a range of incentives aimed at attracting local and foreign investment.
The SEZ status for Atlantis was approved by the Cabinet on June 8.
“We know that without significant economic growth, we will not be able to create work for the people of the province and the country, and without substantially higher rates of investment, we will not achieve growth.
“We have therefore embarked on a range of measures to mobilise investment into our economy.
“And we are working to direct that investment to those industries that have the greatest potential for sustainable growth, and to those parts of the country that have the most to benefit,” Ramaphosa said.
The SEZ programme has been identified as one of the critical economic policy instruments for promoting industrialisation, he said.
“The nine SEZs that have been designated as part of this programme have several important features. They are located in areas both of need and opportunity.” |