President Jacob Zuma is expected to
launch the Maluti-A-Phofung Special Economic Zone (MAP-SEZ)
in Tshiame, Harrismith, in the Eastern Free State, next
week.
The President will on 25 April be joined by Trade and
Industry Minister, Rob Davies, and his Deputy Minister,
Gratitude Magwanishe, as well as Free State Premier, Ace
Magashule.
Minister Davies said the launch of the 1038-hectare MAP-SEZ
was another significant milestone in the implementation
of the departmentˇ¦s SEZ Programme, which was aimed at
accelerating economic growth and development in
designated regions of the country.
ˇ§The Industrial Policy Action Plan identifies SEZˇ¦s as
key contributors to economic development. They are
growth engines towards government's strategic objectives
of industrialisation, regional development and
employment creation. The SEZ programme has entered a
full implementation phase. This is one of the critical
instruments that the Department of Trade and Industry is
using to accelerate industrialisation in the country,ˇ¨
Minister Davies said.
Furthermore the SEZ programme is a critical tool for the
attraction of foreign direct investment (FDI), creation
of decent jobs, establishment of new industrial centres,
as well as development and improvement of the existing
infrastructure.
According to Premier Magashule, ˇ§the MAP-SEZ will create
opportunities for manufacturing as well as a regional
and international trade environment with added value
chain within the Maluti-A-Phofung Municipality.
ˇ§The social and economic benefits, as well as regional
development, will be key and will be enhanced by
creating a prosperous trade city and functional trade
ecosystem (SIP2), which will enable the beneficiation of
mineral and natural resources and attract foreign direct
investment. The priority sectors for the MAP-SEZ are
automotive, agro-processing, logistics, ICT,
pharmaceuticals and general processing,ˇ¨ Premier
Magashule said.
A number of incentives and benefits are available to
ensure SEZˇ¦s growth, revenue generation, creation of
jobs, attraction of FDIs and
international competitiveness. These include a
preferential 15% corporate tax, building allowance, 12I
Tax Allowance and customs controlled area.
ˇV Source: SAnews.gov.za |