The threat of a subdued global economic climate with a low investment appetite is probably one of the biggest challenges facing the Dube TradePort Special Economic Z one (SE Z).According to CEO Hamish Erskine, this will severely hamper efforts to increase foreign direct investment.“There are, however, still some advantages such as the track record of the SEZ,” he told Freight News.
“Other unique advantages include the location, integrated infrastructure and support services offered by the SEZ, which remain a key competitive advantage in attracting investors.”Commenting on the challenges posed by Covid-19, Erskine said providing the necessary support to tenants and manufacturers in the trade zone was of tantamount importance. “Also supporting the freight forwarders using the Dube Cargo Terminal and TradeHouse as well as farmers in the Dube AgriZone development. As an organisation, we are fortunate to have the integrated infrastructure and support services to support these businesses, but the impact of Covid-19 remains a challenge.”
According to Erskine all efforts are being made to retain current investors, tenants and clients through the crisis. He said medium- and long-term plans remained unchanged at present.
“The plan is still to fully develop the second phases of the Dube TradeZone development, along with the aviation platform, which will enable the establishment of maintenance, repair and overhaul facilities as well as executive jet operations,” he said.
“The second phase of our Dube AgriZone, which is an integrated perishable supply chain, with a micropropagation tissue culture laboratory, glass greenhouses and packing, sorting and distribution facilities also remains on the cards.”He said the SEZ was working closely with the provincial department of economic development and the eThekwini Municipality to develop an automotive supplier park in the south of Durban. “The long-term plan is the development of the Durban Aerotropolis, which is an integrated plan that covers 32 000 hectares of land and is expected to create 750 000 jobs and attract R1 trillion in new investment over a 50-year development horizon.”