DURBAN – President Cyril Ramaphosa has officially launched the Atlantis Special Economic Zone (SEZ) in Atlantis, Western Cape, where it was announced that a combined R1.8 billion was expected to be invested in the Atlantis SEZ by 2022, with the creation of at least 1 200 direct jobs.
A total of 24 000 full-time equivalent jobs are also expected to be created in the Special Economy Zone's 20-year lifespan.
The launch of the 124.5-hectare SEZ is designated for the establishment of a green technologies hub in the Western Cape. The launch comes after the confirmed designation of the Atlantis SEZ status which was approved by Cabinet on 8 June 2018.
The SEZ is designated for the manufacture of green technologies, alternative waste management, energy efficient technology, alternative building material and many other clean technologies.
This development will also allow the people of Atlantis to become involved in economic opportunities right on their doorsteps, and play an integral part in growing their economy.
According to tweets from the Presidency, the Atlantis community will be given preference in terms of job opportunities and opportunities for small. micro and medium enterprises.
President @CyrilRamaphosa is in the Western Cape this morning for the official launch of the Atlantis Special Economic Zone. The launch of the 124.5-hectare area is designated for the establishment of a green technologies hub. #AtlantisSEZ pic.twitter.com/brs1c36hlL
— PresidencyZA (@PresidencyZA) December 6, 2018
Special Economic Zones are used to drive industrial & economic development with cluster industries from a particular sector located in geographically designated areas to get the benefits of scale, supported by a range of incentives aimed at attracting local & foreign investment. pic.twitter.com/88bE98z1w5
— PresidencyZA (@PresidencyZA) December 6, 2018
A combined R1.8 billion is expected to be invested in the SEZ by 2022, with the creation of 1,200 direct jobs. A total of 24,000 full time equivalent jobs are also expected to be created in the SEZ's 20-year lifespan. #AtlantisSEZ pic.twitter.com/2fUhisSwhA
— PresidencyZA (@PresidencyZA) December 6, 2018