CAPE TOWN - The South African boat building industry, currently worth well over R1 billion annually, holds enormous potential for the country's economy, the City of Cape Town said on Sunday.
In a statement following the South African Boat Builders Export Council’s (SABBEX) annual industry awards and dinner held on Thursday, the City of Cape Town's mayoral committee member for economic opportunities and asset management, James Vos, said the city was currently exploring ways to support the industry and how best to address problems such as skills development and access to land.
''We are keen to support sectors such as boat building to facilitate accelerated economic growth, job creation, and economic inclusion through skills development," he said.
According to SABBEX, the boat building industry was worth R1.4 billion annually, while it was estimated that oceans sports could bring in R1.2 billion a year.
Vos said he and Cape Town mayor Dan Plato had earlier this year visited two boat building yards in Cape Town - Voyage Yachts and Two Oceans Marine Manufacturing in Paarden Island - to ''experience first-hand what makes the local multi-billion rand building industry tick''.