Atlantis SEZ a step closer to fruition

Trade and Industry Minister Rob Davies has published the intention to designate the Atlantis Special Economic Zone (SEZ).

The public has 30 days from 8 September to support or object the designation of Atlantis.

On Friday, Minister Davies said the proposed SEZ has already demonstrated its strong economic potential and attractiveness to investors by the fact that it has successfully managed to secure investors even before the designation of the SEZ.

There are five investors at the proposed SEZ which is located in the Western Cape that are already operational, totaling approximately R680 million.

Minister Davies says he is also encouraged by the fact that additional investment commitments worth R1.8 billion are already secured for the short to medium term.

The application for the designation of the Atlantis GreenTech SEZ was jointly submitted by the Western Cape Provincial Department for Economic Opportunities and the City of Cape Town.

The SEZ is to be developed as a Green-Tech Hub with particular focus on clean technologies, electronics, solar and wind energy technologies, energy efficient technologies, alternative waste management, alternative building materials and technologies, among others.

The development of the Atlantis GreenTech SEZ has the potential to attract more investors and also contribute significantly to changing the development landscape of Atlantis and neighbouring areas. The area is currently confronted by challenges of high unemployment, poverty and drug abuse.

Last month, Minister Davies announced that he had received a recommendation to designate the Atlantis SEZ.

The Minster received the recommendation from the SEZs Advisory Board, as the application for the designation of the SEZ was jointly submitted by the Western Cape Provincial Department for Economic Opportunities and the City of Cape Town.

SEZs are geographically designated areas of a country that are set aside for specifically targeted economic activities. – SAnews.gov.za