Launch­ing new Spe­cial Eco­nomic Zone

The Star Early Edition - - METRO - STAFF RE­PORTER

PRES­I­DENT Cyril Ramaphosa of­fi­cially launched the At­lantis Spe­cial Eco­nomic Zone (SEZ) yes­ter­day.

The 124.5-hectare area has been des­ig­nated as a green hub, aimed for the es­tab­lish­ment of green tech­nolo­gies in the prov­ince. SEZ sta­tus for the area was ap­proved by the cab­i­net on June 8, 2018.

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.

“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 nine SEZs, des­ig­nated as part of this pro­gramme, have sev­eral im­por­tant fea­tures. They are lo­cated in ar­eas both of need and op­por­tu­nity. They are be­ing es­tab­lished close to where our peo­ple live, where there is of­ten poverty and a great de­mand for jobs,” Ramaphosa said.

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