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Coega SEZ hailed as a success story at inaugural SA SEZ/IDZ Conference

Apr 4, 2019
Coega SEZ hailed as a success story at inaugural SA SEZ/IDZ Conference

Coega highlighted as the model for best practice in South Africa and the African continent

Port Elizabeth - The Department of Trade and Industry (the dti) on Wednesday launched the inaugural South African Special Economic and Industrial Development Zones (SEZ) Conference in Durban under the theme Moving Towards Excellence.

The conference aims to provide a platform for both national and international stakeholders and to outline the country’s achievements in attracting investments, generating exports and creating employment opportunities through the SEZs

Over 600 delegates, including captains of industries, politicians, legislators and various SEZs operating in South Africa, are at the SEZ conference.

Welcoming the delegates, was the MEC for Economic Development, Tourism & Environmental Affairs in KwaZulu-Natal, Honourable Sihle Zikalala.

He highlighted the ‘marching orders’ by President Cyril Ramaphosa, to attract Foreign Direct Investment and stimulate economic growth.

Coega pointed out as a good example 

Furthermore, in his key note address, the Minister of Trade and Industry, Honourable Dr. Rob Davies, highlighted that in 2012 the Coega Special Economic Zone had less than 20 operational investors with a total private sector investment value of approximately R1.13 billion, and created 3778 direct jobs.

However, as at April 2019, the Coega SEZ has more than doubled its achievements.  Currently, it has forty three (43) operational investors, all of whom have invested in excess of R9.93 billion of private sector investment (including BAIC SA phase 1).

In addition, the number of workers have more than doubled since 2012; as at April 2019, 8210 jobs have been created. The Coega SEZ has become the best practice model for all SEZs in South Africa and the continent; it remains a successful SEZ in terms of the number and value investments.

As a leading SEZ on the continent, Coega is now the subject of a global case study by the World Bank, through the London School of Economics, which looks at best practice examples of SEZ development and operations, across the globe.

Image: DELIVERING A KEY NOTE ADDRESS:Dr Rob Davies highlighting progress of the country’s SEZ/IDZ programme at the inaugural South African Special Economic and Industrial Development Zones Conference in Durban.

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