PRETORIA – The Tshwane Automotive Special Economic Zone (SEZ) launced on Tuesday is projected to ignite investments exceeding R3 billion and create a potential 6,700 direct jobs in the sector, President Cyril Ramaphosa said.
Not only will the zone boost growth in a sector that is the mainstay of the country’s industrial base, but it will also bring jobs, support local businesses and spur growth in the city’s economy, Ramaphosa told guests at the launch held at the Ford Motor Company in Silverton, east of Pretoria.
“I am pleased to note that the 18 companies that have been engaged to set up operations in this SEZ are already revving their engines and are rearing to go; with nine already confirmed to set up factories here by January 2021,” he said.
He said the launch came at an opportune time, when business, the government, labour and civil society must work together to resolve the twin challenges of slow economic growth and unemployment.
“We are on a firm path to rebuild our country and return our economy to higher levels of productivity, as well as to transform it to make it more inclusive. Restoring the confidence of both domestic and foreign investors is the lynchpin of our economic reform agenda. Government has prioritised supporting, developing and expanding our SEZ pogramme,” said Ramaphosa.