A new area of the Special Economic Zone (SEZ) adjacent to King Shaka International Airport has opened in South Africa’s Durban. The SEZ has already created over 5,000 permanent jobs and the new area is expected to generate an additional 600 jobs over the next five years.
The SEZ is specifically designed to attract foreign direct investment, stimulate technology transfer, and promote export-oriented industries, particularly in the logistics and automotive sectors.
Siboniso Duma, MEC for the Department of Economic Development, Tourism and Environmental Affairs (EDTEA), highlighted the importance of SEZs in addressing unemployment and inequality during the opening ceremony. “As a government, we are focusing on SEZs for a good reason. They are designed for specific developmental purposes: to develop export-oriented industries, attract foreign direct investment and technology transfer, and achieve the generation of employment opportunities,” Duma stated.
SEZs also contribute to municipal tax collection, which can be used to enhance the quality of life for residents. The new SEZ area in Durban is expected to play a significant role in the city’s economic growth and development.
This development was reported by DUrbanTV, a partner of TV BRICS.
