Trade and Industry Minister Rob Davies has received a recommendation to designate the Atlantis Special Economic Zone.
The Minster received the recommendation from the Special Economic Zones Advisory Board as the application for the designation of the Special Economic Zone (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.
The Atlantis 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.
On Tuesday, Minister Davies said the strong economic potential of the area is reflected by the fact that five major investments are already operational in the area as part of the proposed Special Economic Zone, with investments exceeding R680 million and over direct 500 jobs already created.
Minister Davies said he is encouraged by the fact that additional investment commitments worth R1.8 billion are already secured for the short term.
The Department of Trade and Industry said the development of the hub will go a long way in reviving the economic fortunes of Atlantis, which is currently characterised by many socio-economic challenges such as unemployment and drug abuse.
The Minister will now issue a gazette notifying the public and interested parties of his intention to designate the Atlantis Special Economic Zone. The public and any interested party will have 30 days from the date of the gazette to support or object to this designation.
In May, the Special Economic Zones Advisory Board dismissed inaccurate reports regarding the processing of the application to designate the SEZ. At the time chairperson of the SEZs Advisory Board, Dr Julian Naidoo, said the messaging carried in various media sources over the last few months appears to be aimed at applying undue pressure on the Advisory Board and ultimately forcing Minister Davies to designate the Atlantis SEZ. – SAnews.gov.za
