More than 280 jobs have been created from Phase 2 of the Coega Development Corporation’s multi-user facility, currently being constructed at the Coega Special Economic Zone (SEZ) in Nelson Mandela Bay.
This is in addition to the 8 016 construction jobs created last year.
According to the Coega Development Corporation (CDC) Marketing, Brand and Communication Unit Head, Dr Ayanda Vilakazi, the multi-user facility will provide a home for start-ups and small to medium size businesses that are looking for scale, and are steadfast in building successful businesses.
“Over the past year, the CDC has been approached by numerous companies that want to start operating from within the Coega SEZ due to its favourable location, incentives and modern infrastructure,” the CDC said in a statement on Monday.
The R60-million Phase 2 multi-user facility -- located in Zone 3 of the Coega SEZ -- is currently under construction. The facility is a replica model of the Phase 1, which is now fully occupied. It seeks to provide affordable industrial space for many small-to-medium companies, especially entrepreneurs wishing to grow their business.
“Coega is constantly at the forefront of new development projects that facilitate economic growth and create new opportunities for small businesses, as well as create employment opportunities for communities.
“The Coega SEZ objectives are aligned with the country’s Industrial Policy Action Plan (IPAP), which outlines the country’s industrial development path and priority industries and value chains.
“IPAP highlights the importance of the country’s investment attraction efforts to primarily focus on those investments that will advance and enhance the country’s industrialisation agenda, and also create jobs,” the CDC said.
In line with the IPAP priorities, the main investment attraction drives of SEZs focus mainly on mineral beneficiation, advanced manufacturing, marine industries (the ocean economy) and agro-processing.
“This drive for growth and development has made Coega not only one of the most successful SEZs in the country and Number 1 SEZ on the African continent, but an attractive and ideal investment destination for domestic and foreign investors.
“To this end, Statistics South Africa reported that the Coega SEZ investors have performed well when comparing 2015 and 2018. The results indicate a substantial increase in the number of operational investors over the past four years, recording an 8% average growth rate between 2015 and 2018,” the CDC said.
The total income of Coega SEZ tenants improved by 22% over the comparative period, indicating an increased contribution of tax returns from the tenants.
“Coega SEZ tenants also improved greatly on the net Profit before Tax, recording R506 million in 2018. The number of jobs increased by 17.3% on average per year.
“Coega SEZ contributed to the economy of the region by creating decent jobs with an average salary of R222 000 [per annum], improving from R218 000 per employee in 2015.
“Coega has outperformed the East London SEZ on many key performance indicators and is assisting the other SEZs in the country … for the benefit of South Africa,” the CDC said. – SAnews.gov.za
