Durban: Trade, Industry and Competition Minister Parks Tau announced that South Africa's Special Economic Zones (SEZs) have successfully drawn R31.7 billion in investments and generated 28,821 direct jobs, highlighting their instrumental role in bolstering industrialisation, investment, and employment across the country.
According to South African Government News Agency, Minister Tau addressed the 2nd International Special Economic Zones Conference at the Durban Exhibition Centre in KwaZulu-Natal. He elaborated that 13 SEZs have been designated across eight provinces, housing 224 operational companies. These entities have committed R31.7 billion in investments, marking a significant increase of R17.2 billion over the past eight years. The Department of Trade, Industry and Competition (dtic) has supported these zones with R12 billion in infrastructure enhancements since their inception.
Minister Tau emphasized the tangible impact of this investment surge, citing Ford's expansion at the Tshwane Automotive Special Economic Zone, which has unlocked R16 billion in private investment and generated 3,333 direct jobs. Additionally, the Richards Bay Industrial Development Zone is witnessing a pipeline of 24 potential investors with projects valued at approximately R247 billion.
The Nyanza Light Metals titanium dioxide project at Richards Bay has reached financial closure with a R14.5 billion investment, poised to create over 800 direct jobs upon full operation. Minister Tau encouraged conference delegates to engage in export-focused sessions hosted by entities like DHL Express and Trade and Investment KwaZulu-Natal, aimed at aiding manufacturers and small businesses in penetrating international markets.
Looking forward, Minister Tau outlined the government's objectives for the conference, including the designation of two new zones, Fetakgomo Tubatse and Vaal, and the introduction of an independent World Bank review of the SEZ Programme. The aim is to refine the SEZ Implementation Model, enhancing private-sector involvement and establishing a formal process for revitalizing underperforming zones.
KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs, Musa Zondi, highlighted the pivotal timing of the conference as South Africa strives for inclusive economic growth and expanded industrialisation. Zondi emphasized the strategic importance of KwaZulu-Natal's infrastructure in positioning the province as a trade and investment gateway.
Held under the theme 'Reigniting Industrialisation through World-class Special Economic Zones,' the conference underscores South Africa's efforts to accelerate industrialisation and attract investment. With over 1,000 delegates expected, discussions will focus on improving SEZ governance, mobilising industrial infrastructure investment, and exploring opportunities within the African Continental Free Trade Area.