The Minister of Trade and Industry, Dr Rob Davies says the recent designation of the Nkomazi Special Economic Zone (SEZ) in Mpumalanga will contribute significantly to the economic and industrial development of the Nkomazi region and the province at large.
Davies designated the Nkomazi SEZ as the 10th Special Economic Zone in South Africa recently. The Nkomazi SEZ will be developed as an agro-processing hub, supported by logistics and other related services.
To date, the special economic Zone programme has attracted 115 private companies with a total value of R11.6 billion from private investments leveraging on the R4.6 billion of public investments. The SEZ programme has created more than 14 020 direct jobs as well as many multipliers.
According to Davies, the introduction of SEZ Tax incentives, which include the reduced 15% Corporate Tax Incentive, Employment Tax Incentives, Customs and excise incentive and Accelerated Depreciation of Building allowance have brought a much needed investment confidence into the programme and the country.
“Taking advantage of the Tax incentive package and the SEZ investment pipeline, the dti target is to increase the number of investments into the zones and double the rand value of operational investments from R11.6 billion to R23 billion by the end of 2019,” says Davies.
Last month President Cyril Ramaphosa launched the 124.5-hectare area, Atlantis Special Economic Zone (SEZ) in Atlantis, Western Cape Province. The Atlantis SEZ is designated for the manufacturing of green technologies, alternative waste management, energy efficient technology, alternative building material and many other clean technologies.
