SOUTH AFRICA SPENDING 415 MLN RAND TO REVITALISE 11 INDUSTYRIAL PARKS

CAPE TOWN–The Department of Trade and Industry (dti) has set aside a sum of 415 million Rand (about 35 million US dollars) to refurbish 11 industrial parks across South Africa, says its director-general, Lionel October.

Presenting the dti’s Annual Performance Plan to the Parliamentary Committee on Trade and Industry this week, he said the revitalisation of industrial parks is one of the department’s key activities.

The Industrial Parks Revitalisation Programme is one of the flagship programmes of our department aimed at facilitating broad-based economic participation to achieve inclusive growth, as well as facilitating the transformation of the economy. These industrial parks will promote industrial development, investment, competitiveness and employment creation.

The department has therefore allocated 415 million Rand for the revitalisation of 11 industrial parks across the country. Enterprises at the industrial parks employ a total of 55,000 people, he said.

October added that the implementation of the programme, which focuses on both the physical infrastructure and other support requirements, was started in 2016.

Industrial parks that have already been renovated and launched as they have completed the first phase of the programme include Vulindlela and Komani in Eastern Cape province, Botshabelo in Free State province, Seshego in Limpopo province and Isithebe in KwaZulu-Natal province.

The revitalisation programme will help to enhance the occupancy rate of the industrial parks and drive retention and expansion. It will also contribute to economic growth and diversification of economic activity, attract investments and promote job creation as well as address inequality.

It is also aimed at providing new opportunities and support high growth in the townships, rural and distressed areas.

Source: NAM NEWS NETWORK