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BusinessLive reports that the Department of Trade & Industry (DTI) on Friday gazetted the creation of the 155ha Nkomazi special economic zone (SEZ) in Mpumalanga.
The zone will focus on primary agriculture, agroprocessing and fertilizer production. It is estimated that it will provide an additional R5.3bn in new economic production in the area, and result in more than 81,000 sustainable jobs through various agricultural value chains. The zone’s boundaries include the N4 and the Komatipoort-Swaziland railway, and it will offer a range of incentives, including infrastructure and reduced corporate tax rates. According to the application for the zone, it aims to almost triple economic activity in the region by 2026, and raise provincial economic output by a third. Overall national GDP could receive a 2.5% boost, while SA’s primary agricultural output could rise by almost a tenth, according to the feasibility study in the report.
- Read the full original of Karl Gernetzky’s report on the SEZ at BusinessLive
Get other news reports at the SA Labour News home page