Despite a challenging economic environment, the Coega Development Corporation (CDC) continues to welcome new investors to its Special Economic Zone (SEZ), which is crucial to generating employment opportunities.
In the past financial year, the CDC acquired 13 new investors with a combined investment value of R 557.7 million.
“Investment is the key to generating employment opportunities. Over the past financial year, job creation stood at a commendable 19 199, and the number of persons trained at 3 296. To date, the CDC has 55 operational investors,” the CDC said on Thursday.
The CDC said as the operator and developer of the Coega SEZ, its overarching objective is to boost economic growth and job creation through investment, in pursuit of socio-economic development.
“Coega reaffirms its position as a leading SEZ in Africa and a preferred domestic and foreign direct investment destination. The CDC has sustained continuous improvement in all areas of priority, with a commitment to our mission to be a competitive investment location supported by value-added business services that effectively enable socio-economic development.
“Coega SEZ is demarcated into 14 zones for synergy and supply chain integration, which garner investment in the energy, metals, logistics, automotive, chemicals, aquaculture and agro processing, maritime, and business process outsourcing sectors,” the CDC said.
Prevailing major investors include the Dedisa Power Peaking Plant in Zone 13, who invested R3.5 billion, FAW SA in Zone 2, with a R600 million investment, as well as CEMZA in Zone 5, who invested R600 million.
The CDC emphasised the importance of skills development, which is where Coega’s Human Capital Solutions division plays a key role – not only in upskilling beneficiaries for employability (register on https://www.g2o.co.za) but by providing a skills development, training, and recruitment services to Coega investors and Coega construction contractors.
Since 2002, a total of 65 594 construction jobs have been created through Coega projects, comprising 41 865 Coega SEZ construction jobs and 23 729 Port of Ngqura construction jobs (projects supported by Coega Human Capital Solutions).
“In terms of facilities that are readily available to businesses outside of the SEZ, and amongst a variety of other facilities, the Coega Trade Facilitation Unit’s Customs Control Area (CCA) Warehouse can be used as a storage facility for businesses across the region, as well as SEZ investors that require storage and warehousing space prior to freight distribution.
“Based on its location in the heart of a fully functional “plug and play” special economic zone, the CCA Warehouse is built on world-class infrastructure – including roads, bulk water and sewer networks, telecommunication sleeve networks, electrical substations (HV and MV), and overhead power lines (HV and MV),” the CDC said.
Source: South African Government News Agency