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Industrial Development Zones to Get R25bn
Source: BuaNews
Source Date: Friday, November 04, 2011
Country: South Africa
Created: Nov 04, 2011

Incentives are under consideration to attract businesses from employment-intensive industries and services into industrial development zones, which have the potential to export, become part of global supply chains and competitive logistics hubs.

 

Funding for the package over the next three years will come from that contained in the available fiscal envelope.

 

Gordhan said the R25 billion would include R8 billion in tax incentives for recently approved projects in the area of industrial development, technology support and training.

 

It would also include regulatory reform to assist small businesses, support for job creation and training projects and support to develop black businesses, including preferential procurement and finance facilities.

 

Added to this, export diversification would be encouraged, including forging new trade partnerships with fast growing emerging economies, while work would continue towards achieving regional integration in Sub-Saharan Africa.

 

Trade, investment and energy policies would also be aligned to support the transition to a green economy, including private-sector participation in South Africa’s renewable energy production programme.

 

During a media briefing held ahead of the speech, the minister said the details of the package would be revealed by Minister of Trade and Industry Rob Davies soon.
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