IDZs create 10 000 Eastern Cape jobs

LEONARD NEILL MORE THAN 10 000 Eastern Cape jobs have been created as a result of the development of IDZs in both East London and Coega. This, says the province’s MEC for Economic Affairs, Environment and Tourism, Andre de Wet, is a clear indication of commitment by government at all three levels - national, provincial and local - to the principle of building a sound base for private sector investment. “It has never been our intention, however, to allow investment decisions to be determined exclusively by the market-related behaviour of the private sector,” he says. “It is imperative that the IDZs should also provide a basis for BEE investment and small enterprise involvement through the allocation of contracts and appropriate procurement policies.” In the Coega IDZ more than 9 500 construction workers have been employed to date, while 500 direct jobs have been established in East London’s IDZ, he says. In the Coega development, rigorous BEE targets were exceeded in the procurement of contracts and almost 60% of the equity in companies that were awarded infrastructure contracts amounting to R814million was held by black business. In addition, participation by local enterprise accounted for nearly 60% of awarded contracts, with 65% of this figure awarded to SMME interests, said De Wet.