COMPANY COMMENT
Economic zones turn out to be not so special
Why listed property investors may be better off buying into tried and tested property stocks in 2017 and 2018
Special economic zones are a key driver to attaining industrialisation and economic transformation, the government says. Deputy director-general for special economic zones and economic transformation at the Department of Trade and Industry Sipho Zikode says SA needs to fast-track the establishment of these zones "to ensure that we attract investors" and accelerate the creation of jobs that are sustainable and knowledge-based. Zikode says special economic zones are a long-term development and an important platform for collaboration across all spheres of government. But it is precisely because he does not mention the private sector that investors have been slow to react, despite a raft of new incentives including a 15% tax rate. Two foreign vehicle brands have provided different takes on SA’s attractiveness as a manufacturing base. China’s state-owned Beijing Automotive Industry is building an R11bn assembly plant at the Coega development zone near Port Elizabeth. SA’s state-mandated ...
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