South Africa pushes industrialization with special economic zones

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South Africa
South Africa

South Africa is using the Special Economic Zones (SEZs) to industrialize the country and create jobs, said a senior government official on Thursday.

Addressing the Limpopo Investment Conference on Wednesday, Trade, Industry and Competition Acting Deputy Director-General of Spatial Industrial Development and Economic Transformation Maoto Molefane said the country’s SEZs have attracted over 56 billion rand (3.9 billion US dollars) worth of private investors in the 10 operational zones.

“We introduced a new approach aimed at solidifying a number of instruments, including a strong involvement of the national government in terms of assisting provinces to ensure that all the SEZs are accelerated, attract investment and that they are operational,” said Molefane.

He said they will use the SEZs to expand or create new cities. He emphasized that they want to use the SEZs to create decent jobs, develop the regions and transfer skills to small, micro and medium-sized enterprises.

He said they want to put in place incentives such as 15 percent corporate tax and accelerate the allowance for companies that invest in buildings. Enditem

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