Trade and Industry Minister Rob Davies has declared the Dube TradePort a special economic zone, which will entitle it to tax and other concessions. The Dube TradePort this year signed a R1.3bn agreement with pharmaceutical company Cipla for the production of biosimilars, and by October had a R3bn pipeline of investments, according to departmental officials. The 302ha tradeport in KwaZulu-Natal was designated as an industrial development zone in 2014. All industrial development zones which existed immediately prior to the promulgation of the Special Economic Zones Act automatically became special economic zones. Davies made the declaration in a notice in the Government Gazette last Friday. The Trade and Industry Department’s director general Lionel October told Parliament’s trade and industry committee in October that the new special economic zone policy and incentives package had "significantly improved the attractiveness of special economic zones" which offer investors a corporate ...
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