BACKERS of the Coega project are looking to government for additional incentives to attract international investors.
A statement released by the Coega IDZ Initiative Company reads the success of the IDZ will depend on attracting industry internationally. To compete with other world industrial zones, the government would have to put into place globally competitive administrative and incentive packages. A possibility is for Coega to be designated as a free zone offering elements like exemption of customs duties on imports used for export production, tax holidays, complete freedom from foreign exchange controls and simplified investment registration procedures through one-stop shop centres. Such incentives should extend not only to export industries, but to private sector zone development/management organisations and to service providers located within the zone. (In Africa there is no free zone comparable to Singapore, Hong Kong or the Chinese zones).
