Business & Economy

Tuesday, 12 September 2017 11:14

Minister Davies Publishes the Application to Designate the Atlantis Special Economic Zone for Public Comments

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Minister Davies Publishes the Application to Designate the Atlantis Special Economic Zone for Public Comments

The public and any interested party have 30 days from 08 September 2017 to support or object to this designation

JOHANNESBURG, South Africa, September 11, 2017/APO/ -- 

The Minister of Trade and Industry, Minister Davies has published the intention to designate the Atlantis Special Economic Zone notifying the public and interested parties to submit their written comments. The public and any interested party have 30 days from 08 September 2017 to support or object to this designation. 

The application for the designation of the Atlantis GreenTech SEZ was jointly submitted by the Western Cape Provincial Department for Economic Opportunities and the City of Cape Town. The 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 the Atlantis GreenTech SEZ has a potential to attract more investors and also contribute significantly in changing the development landscape of the entire Atlantis and the neighbouring areas, which are currentlyconfronted by many challenges including high unemployment, poverty and drug abuse.

Minister Davies says that the proposed SEZ has already demonstrated its strong economic potential and attractiveness to investors by the fact that it has successfully managed to secure investors even before the designation of the SEZ. There are five (5) investors in Atlantis that are already operational, totalling approximately R680m. Minister Davies says he is also encouraged by the fact that additional investment commitments worth R1, 8 billion are already secured for the short to medium term.

Distributed by APO on behalf of The Department of Trade and Industry, South Africa.

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