M a r k e t N e w s
Africa’s newest Industrial Development Zone
Posted on : Tuesday, 13th January 2015
The Dube TradePort in the South African port city of Durban is now officially an Industrial Development Zone (IDZ), joining three other similar economic zones spread out across the country.
President Jacob Zuma on Tuesday, 7 October, handed over an IDZ operator licence to the Dube TradePort Corporation for the precinct, which has already attracted investments worth nearly R1-billion since it was opened in 2012.
The Dube TradePort IDZ is the latest in the nationwide rollout of special economic zones aimed at growing the country’s economy to meet the target of 5% growth by 2019.
The first IDZ for Durban, the Dube TradePort IDZ joins similar projects in Port Elizabeth, East London and Richards Bay that have attracted a combined investment of over R5- billion. According to Department of Trade and Industry director general Lionel October more special economic zones will be rolled out across the country as government intensifies its approach to industrialise South Africa’s economy as demanded by the National Development Plan (NDP).
Source : www.southafrica.info
