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Tau unveils new SEZ strategy to drive industrial growth – SABC News

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South Africa has incorporated findings of an independent World Bank review of its Special Economic Zones (SEZs) in charting a strategy to reignite industrialisation in the country.

That is according to Trade, Industry and Competition Minister Parks Tau.

He was speaking at the second International Special Economic Zones Infrastructure and Investment conference in Durban.

South Africa has 13 zones or SEZs in eight provinces, where 224 companies have invested over R31 billion over the past eight years. Government has invested R12 billion in infrastructure and the top structure of the SEZs.

Tau says the revamped SEZ strategy will provide for private sector developed industrial parks and non-financial incentives.

“We are designating an additional set of two SEZs over and above the ones that have already been designated. Beyond that we are extending incentives and SEZ support programmes to industrial parks, a lot of these found in townships and rural areas that have become dilapidated. So, the pipeline of investments will be determined by the speed with which this process is undertaken. We see SEZs as a critical part of the industrialisation pathway of South Africa.”

 

Tau has highlighted the R14.5 billion investment in the second phase of Nyanza Light Metals in the Richards Bay Industrial Development Zone as an African success story.

The company produces titanium dioxide used in the manufacturing of paint.

“It represents African excellence. It is an initiative by local investors, African investors, that is intending to replace a product that is 100% imported into the country, and to become manufactured in the country in the paint production process. It is financed by DFIs (Development Finance Institutions) from South Africa – the IDC, the PIC. But it is also financed by Afreximbank, the Africa Export Import Bank, and the African Bank.”





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