The Minister of Trade and Industry, Dr Rob Davies, has received a recommendation from the Special Economic Zones Advisory Board to designate the Atlantis Special Economic Zone.

The application for the designation of the Atlantis SEZ was jointly submitted by the Western Cape Provincial Department for Economic Opportunities and the City of Cape Town. The designation of the Atlantis SEZ follows that of the Saldanha Bay IDZ along the West Coast Corridor.    

The Atlantis SEZ is to be developed as a Green-Tech Hub with particular focus on clean technologies, electronics, solar and wind energy technologies, energy efficient technologies, alternative waste management, alternative building materials and technologies, etc.

The development of this Hub will go a long way in reviving the economic fortunes of Atlantis, which is currently characterised by many socio-economic challenges such as unemployment and drug abuse.

Minister Davies says that the strong economic potential of the area is reflected by the fact that 5 major investments are already operational in the area as part of the proposed Special Economic Zone, with investments exceeding R680 million and over direct 500 jobs already created. Minister Davies says he is also encouraged by the fact that additional investment commitments worth R1, 8 billion are already secured for the short term.

Minister Davies will now issue a gazette notifying the public and interested parties of his intention to designate the Atlantis Special Economic Zone. The public and any interested party will have 30 days from the date of the gazette to support or object to this designation.

 

Issued by Department of Trade and Industry