The Coega Development Corporation (CDC) hosted a delegation from the Special Economic Zone (SEZ) Chief Executive Officer’s (CEO’s) Forum yesterday to reflect on the general performance and progress of SEZ`s followed by a site visit to the port of Ngqura and Coega SEZ. “The initiative by the Department of Trade & Industry (the dti) to establish a forum of CEO’s from various SEZ’s has done wonders in knowledge sharing and emulating templates of success in the implementation of the SEZ … [Read more...] about SEZ CEO`s Forum visits Coega SEZ
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Coega SEZ granted preferential tax benefits
Following the promulgation of the Special Economic Zone Act in 2014 (SEZ Act of 2014) which then saw proclamation for commencement on the 9th of February 2016, the Minister of Finance, Nhlanhla Nene approved the six SEZs preferential tax treatment status in terms of section 12R of the Income Tax Act (“s12R”). “It gives us great joy that the Minister has approved the preferential tax treatment as it forms part of a suit of incentives we use in attracting investors to the Coega SEZ,” says, Dr … [Read more...] about Coega SEZ granted preferential tax benefits
Coega – SA’s 1 in 3 500
The Coega Special Economic Zone (SEZ), located in the Nelson Mandela Bay Municipality, has been selected as one of seven examples of success out of thousands of SEZs around the world, in a World Bank-financed research study into what makes economic zones successful. By current estimates, there are approximately 3 500 SEZs in more than 130 countries worldwide, employing more than 60 million people, according to the World Bank. In its recently released report, “Special Economic Zones- An … [Read more...] about Coega – SA’s 1 in 3 500
Zuma prioritises industrial development as SEZ bill signed into law
The Coega Development Corporation (CDC) today welcomed what it calls a "decisive and symbolic move" by South African President, Jacob Zuma, in signing the Special Economic Zones (SEZ) Act into legislation as one of his first actions in his second term. "The SEZ Bill is a powerful sign that South Africa is committed to pursuing industrial development and competing in an international area," said CDC Head of Marketing and Communications, Dr Ayanda Vilakazi. "We are pleased by President Zuma's … [Read more...] about Zuma prioritises industrial development as SEZ bill signed into law
SEZs to Join IDZs
A new Bill gazetted today aims to boost job creation and industrialisation in outlying areas through the licensing of special economic zones (SEZs). Briefing the media in Pretoria on the gazetting of the Special Economic Zones (SEZ) Bill for public comment, the Minister of Trade and Industry Rob Davies said special economic zones would expand the work done by the Industrial Development Zones (IDZs) and attract more foreign investment. In particular SEZs would also help stimulate … [Read more...] about SEZs to Join IDZs
