President Cyril Ramaphosa will on Tuesday, 02 February 2021, undertake an oversight visit to the Tshwane Automotive Special Economic Zone construction site and officiate at the Ford Motor Company of Southern Africa’s investment ceremony.
The President’s visit to track progress at the Tshwane Automotive Special Economic Zone occurs 14 months since leading the sod-turning of the R3,4 billion joint investment by government and Ford Motor company which established the first automotive incubation centre adjacent to the Special Economic Zone.
The Tshwane Automotive Special Economic Zone fulfills the District Development Model objective of co-ordinated development and economic opportunities in local areas. It also focuses on attracting foreign direct investment and grow exports of value-added commodities.
The automotive hub is an expansion of the OR Tambo International Airport Special Economic Zone.
In line with the South African Reconstruction and Recovery Plan’s priorities of accelerating economic reforms, reindustrialising the economy and creating jobs through aggressive infrastructure investment, industrial parks and Special Economic Zones are rebuilding the country’s manufacturing capacity.
Zones offer various incentives such as reduced corporate tax rates, VAT and customs relief, building allowances and an employment tax incentive.
The automotive sector has attracted close to R23 billion through the Automotive Master Development Plan 2035 which influences the industrialisation effort in other sectors to improve productivity, investment and competitiveness and promotes localisation in particular on the development of small, medium and micro enterprises.
President Ramaphosa will be accompanied by the Minister Ebrahim Patel of Trade, Industry and Competition, Gauteng Premier David Makhura, MEC Parks Tau of Economic Development, Agriculture and Environment, City of Tshwane Executive Mayor Cllr Randall Williams, and the Ford Motor Company of Southern Africa’s leadership.
Following the visit to the special economic zone, President Ramaphosa will officiate at the investment ceremony of the Ford Motor Company of Southern Africa.
Due to COVID-19 Regulations, the visit to the Tshwane Automotive Special Economic Zone and the Ford Motor Company of Southern Africa will be strictly restricted to the participating delegates.
Members of the media are invited to attend virtually as follows:
Date: Tuesday 02 February 2021
Time: To be announced
Virtual Link: https://youtu.be/hkLoHW0kf-U
The oversight visits to TASEZ and Ford Investment Ceremony will also be live streamed on all Presidency and government digital platforms.
Source: The Presidency Republic of South Africa