Incentives will be finalised shortly

ALL LAND falling within the East London IDZ is in the final stages of being transferred to the IDZ authority. This process has been relatively easy, says chief executive Peter Miles, as there is no private land which has fallen within the boundaries of the IDZ.
"This is a major advantage to us," he says. "In the interests of development in the region, the land has been made available to us by the municipality at a reasonable rate, which means that the sale or lease prices will be very attractive. This gives East LondonÕs IDZ a marked advantage over other initiatives of the same kind in South Africa."
An agreement on the package of local incentives that will be offered to prospective investors is expected to be finalised shortly.