Government’s efforts to boost the West Coast's economically viability will receive a leg up when President Jacob Zuma launches the Saldanha Bay industrial development zone (IDZ), in the Western Cape, on Thursday.
Over the next 25 years, this IDZ was expected to add 86% to the gross geographic product, create about 11 975 direct, indirect and induced jobs and attract R9.3-billion in foreign direct investment.
“The Saldanha Bay IDZ will enhance government’s initiative that seeks to create viable economic regional participation, as the feasibility study has revealed that this IDZ has immense potential to take the economy of South Africa and the West Coast region to a higher industrial growth path,” said Trade and Industry Minister Dr Rob Davies.
The IDZ, which is one of South Africa’s 18 strategic integrated projects, was strategically located to serve the large oil and gas sector on the African continent and provide an opportunity for components manufacturing in support of the oil and gas industry.
Further, the IDZ was seen as be a “useful policy tool” to advance the ambitions of the Industrial Policy Action Plan, the New Growth Path and the National Development Plan.
Zuma’s handover of the IDZ operator permit on Thursday would also enhance the work of the Department of Trade and Industry- (DTI)- initiated West Coast Fishing Cluster, which had attracted funding support of more than R11-million through the Cooperatives Incentives Scheme.
The cluster initiative, which was a part of the Regional Industrial Development Plan, promoted economic regional participation and had spurred the commercialisation of small-scale fisheries since 2010.