Ramaphosa to launch Tshwane automotive special economic zone
South African President Cyril Ramaphosa will launch the Tshwane Automotive Special Economic Zone (SEZ) next Tuesday, the department of trade and industry said on Friday.
The Gauteng provincial government applied to the trade and industry minister through the SEZ advisory board for the expansion of the OR Tambo SEZ to incorporate the Tshwane Automotive Hub, whose main purpose is to attracting new automotive component manufacturers.
The hub will be developed through a joint partnership between the department of trade and industry, the Gauteng provincial government and the city of Tshwane.
SEZs are a government initiative aimed at re-positioning the country in the world economy and have become "global tools for social and economic transformation, resulting in exponential growth when deployed", according to the trade and industry department.
"It is envisaged that this SEZ will drive investment into the city of Tshwane and surrounding communities," it said on Friday.
Among the zone's key objectives will be to develop the infrastructure required to support the growth of industrial activities, attract foreign and domestic direct investment, promote regional economic development and broaden the economic participation of small, micro and medium enterprises as well as cooperatives.
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