KwaZulu-Natal’s Dube Trade Port special economic zone (SEZ) is set to attract more than R20 billion worth of investment over the next five years, according to the province’s MEC for economic development, tourism and environmental affairs, Sihle Zikalala.
He was addressing delegates at a national SEZ Conference – the first of its kind – hosted by the Department of Trade and Industry (dti) at the Inkosi Albert Luthuli International Convention Centre in Durban yesterday.
Zikalala said the recently announced R18 billion second-phase expansion of Dube port, comprising an additional 45 hectares, would generate a lot of interest in investment. “Since we launched Dube Trade Port in March 2012, this economic zone has signed investments exceeding R12 billion.”
The addition of one-stop investment shops would serve to fast-track more investments, he said.
“This is also boosting our manufacturing sector, which is geared for export. As you all know, a third of South Africa’s manufactured exports is produced in KwaZulu-Natal.”
However, he added, despite the projected growth, there were still “bottlenecks” which made it difficult for foreign direct investors to inject much-needed investment. These included challenges relating to incentives, environmental impact assessments and general compliance issues.
