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Govt’s Special Economic Zone program gets over R11bn in investment

President Cyril Ramaphosa launched one of the hub's in the west coast town of Atlantis earlier on Thursday.

President  Cyril Ramaphosa at the launch of the Atlantis Special Economic Zone on 6 December 2018. Picture: @SAgovnews/Twitter

CAPE TOWN – President Cyril Ramaphosa says government’s Special Economic Zone program has generated over R11 billion worth of private investment.

Ramaphosa launched one of the hub's in the west coast town of Atlantis earlier on Thursday.

Green technology will be developed there that could generate more than 20,000 jobs.

Ramaphosa says: "The Special Economic Zone (SEZs) programme has been identified as one of the critical economic policy instruments for promoting industrialisation. 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. They are being established close to where our people live, where there is often deep poverty and where there is a great demand for jobs."

Trade and Industry Minister Rob Davies says ongoing partnerships need to be formed to make a success of this initiative.

"They require first of all that there is a sustainable and significant substantial business proposition around the area concerned. Secondly, that there is a construction of infrastructure that’s going to support the economic activities."

At the same time, Western Cape Premier Helen Zille has emphasised the importance of cutting red tape.

“We, as the government, while we’re here congratulating ourselves today, have a lot of introspection to do about all the barriers to investment and innovation.”

(Edited by Thapelo Lekabe)