RICHARDS BAY IDZ NEW INVESTORS DUBBED THE START OF A NEW ERA POST COVID-19

MEDIA RELEASE

19 APRIL 2020

 

RICHARDS BAY IDZ NEW INVESTORS DUBBED THE START OF A NEW ERA POST COVID-19

The Deputy Minister of Trade and Industry, Ms Nomalungelo Gina kicked off her long-week visit to KwaZulu-Natal with a visit to the Richards Bay Industrial Development Zone (RBIDZ).

Gina’s visit was part of the national Siyahlola Programme whose purpose is to assess progress made in the implementation of the Special Economic Zones Programme (SEZ), Revitalisation of  Industrial Parks Programme, and the sector-specific Master Plans that are part of the re-imagined national industrial development strategy.

Gina met with the City of uMhlathuze Mayor, Mr Mduduzi Mhlongo, RBIDZ’s Chairperson Mel Clark, Acting Chief Executive Officer, Ms Simangele Ngcobo and other senior government officials from KwaZulu-Natal. Gina reiterated that the SEZ programme is one of the key instruments that are used to achieve the objectives of the Economic Reconstruction and Recovery Plan.

“The SEZ Programme has managed to attract a significant number of investors.  This has seen the value of operational investments increasing from R17.7 billion by the end of the third quarter of the 2019-2020 financial year to R19.5 billion by the end of the third quarter of the 2020-2021 financial year. This is a positive increase of R1.8 billion. During the same period, the number of investments has increased from 129 to 143,” says Gina.

Gina said the DTIC as a critical stakeholder in the implementation of the RBIDZ and custodian of the SEZ programme, they are happy with the progress made in relation to the investment drive and job creation efforts. 

“Government has to create a platform where shareholders and investors can be able to feel the impact of our intervention when it comes to Foreign and Domestic Direct Investments in these zones. We need to look at the whole value chain and identify projects that will be able to empower all surrounding areas including entrepreneurs outside these zones,” Gina said.

She added that programmes like Siyahlola will results intangible things being achieved through sharing of ideas at all levels.

RBIDZ’s Acting Chief Executive Officer, Ms Simangele Ngcobo believe that Siyahlola Programme will strengthen all efforts aimed at turning around the circumstances in the face of destruction caused by COVID-19.

“The recorded progress evidenced by the commencement of construction by the two catalyst investment projects being Wilmar Processing SA (Pty) Ltd and Nyanza Light Metals (Pty) Ltd, which are investing a combined private investment value of R5.8 billion.  They are expected to create approximately 800 direct jobs.  These investments are expected to create an estimated 2200 construction jobs. These projects come at a time when there has been a sharp decline in the construction sector and an increase in unemployment globally,” said Ngcobo.

Ngcobo said they are very motivated to witness this breakthrough and appreciate the support by all spheres of government - nationally, provincially and locally. She added that RBIDZ is pleased that the Deputy Minister commended the positive progress by the entity and further committed to intervening in resolving bottlenecks with the speed that these deserve.

“RBIDZ remains a strategic asset that will help change the face of the province moving forward. We are determined to contribute towards the creation of employment leveraging on the direct investments with different sectors of the economy being targeted to drive growth, spiralling skills transfer as well as value chain benefits to the people at large remarked RBIDZ,” she said.

Enquiries:

Sidwell Medupe-Departmental Spokesperson

Tel: (012) 394 1650

Mobile: 079 492 1774

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Issued by: The Department of Trade, Industry and Competition

Follow us on Twitter: @the_dti

About RBIDZ

The RBIDZ is an organisation made up of real people, with a real dedication, and passion to effect real change in South Africa. This commitment and energy is apparent in all dealings with not only each other but with potential investors too.

© 2021, RBIDZ. Powered By TTECH

Subscribe to our Newsletter

RBIDZ OFFICE COMPLEX
4 Harbour Arterial, ALTON,
Richards Bay, 3900

Phone: +27 35 797 2600
E-Mail: info@rbidz.co.za

Search