Trade and Industry Minister Dr Rob Davies is preparing to issue a gazette outlining an intention to designate the proposed Atlantis Special Economic Zone (SEZ).
The SEZ Advisory Board-recommended action followed an application for designation by the Western Cape Department for Economic Opportunities and the City of Cape Town.
The Atlantis SEZ is set to be developed as a green-technology hub, encompassing clean technologies, electronics, solar and wind energy technologies, energy efficient technologies, alternative waste management and alternative building materials and technologies, besides others.
“The development of this hub will go a long way in reviving the economic fortunes of Atlantis, which is currently characterised by many socioeconomic challenges, such as unemployment and drug abuse,” Davies commented this month.
The area showed strong economic potential, boasting investments of more than R680-million into the hub, with five major investments already operational, creating in excess of 500 jobs.
Additional investment commitments worth R1.8-billion are already secured for the short term.
Western Cape Economic Opportunities Minister Alan Winde said the designation of the proposed SEZ was the culmination of public- and private-sector support over several years.
“The SEZ will deliver an economic boost to Atlantis and the Western Cape. We know that South Africa is the world’s fastest-growing green economy. And, in partnership with GreenCape, we are establishing the province as the hub of this growth.
“The Western Cape is home to 60% of the country’s green project developers and two-thirds of South Africa’s green manufacturing happens in this province. In order to take advantage of this growth and support a manufacturing economy, we applied for this national government policy instrument,” he added.
The designation of the Atlantis SEZ follows that of the Saldanha Bay Industrial Development Zone along the West Coast corridor.