Local News
FS, NW, NC to get Special Economic Zones to promote economic growth─── SABRINA DEAN 07:36 Thu, 21 Aug 2014
Bloemfontein - The Free State, North West and Northern Cape are each expected to get their own Special Economic Zone (SEZ) aimed at promoting rapid economic growth in the not too distant future.
Parliament’s portfolio committee on trade and industry yesterday heard the department of trade and industry (DTI) intends completing all preparations for ten new SEZs across the country within the next six months.
SEZs are areas that specifically target economic activities and can range from free port, trade and industrial development zones to sector development or specialised zones. Plans are to develop SEZs at Harrismith in the Free State, Upington in the Northern Cape and Rustenburg in the North West province, as well as seven other locations across South Africa.
The committee says the SEZ Act will become effective as soon as the DTI finalizes SEZ regulations by October.
There are already five SEZs in existence, which the committee heard have all “turned the corner”. These include Coega in Port Elizabeth which has 18 investors.
SEZs are areas that specifically target economic activities and can range from free port, trade and industrial development zones to sector development or specialised zones. Plans are to develop SEZs at Harrismith in the Free State, Upington in the Northern Cape and Rustenburg in the North West province, as well as seven other locations across South Africa.
The committee says the SEZ Act will become effective as soon as the DTI finalizes SEZ regulations by October.
There are already five SEZs in existence, which the committee heard have all “turned the corner”. These include Coega in Port Elizabeth which has 18 investors.
Sabrina Dean/OFM News
