Sustainable Development Goal 9 was formulated and adopted in view of Africa’s inefficacy to industrialize. This policy intends to ‘build resilient infrastructure, promote sustainable industrialization and foster innovation’. Industrial development is recognised as one of the nation’s prime priorities, subsequently numerous rising opportunities abound for Africa to industrialize. To seize such alternatives, African governments are required to implement revolutionary approaches to industrial policy, considered one of which is an increased focus on the function of Special Economic Zones (SEZs) and industrial parks as instruments of commercial growth.
Industrial Parks and SEZ’s are two of the spatial interventions identified by the South African authorities and are subsequently aligned with world approaches. Industrial spaces could be leveraged as catalysts for socio-economic development. All issues thought-about, such spaces are recognised as enablers and are due to this fact often managed as such, and not for rent-seeking purposes. Moreover, industrial parks and SEZs successfully lend themselves as areas for piloting and experimentation of new technologies and totally different approaches to industrial improvement, as properly as for neighborhood and environmental programmes owing to the nexus between these three features.
Industrial parks and SEZs, as nicely as related industrial spaces, have the potential to grow the economic system as a result of owing to the alternatives for employment and establishing new companies and value chains. This consequently develops the tax base and native financial exercise which is important in facilitating social development. The myriad of interventions established via industrial spaces assist industrial and economic improvement, the transition to good cities and transformation to a green financial system in addition to facilitate adoption of 4th Industrial Revolution solutions. What’ spmk700 , such interventions provide a platform for widespread engagement of multiple stakeholders that supports win-win outcomes serving economic, social and environmental pursuits. Accordingly, industrial parks and SEZ’s have the propensity to provide increased worth, assuming the required planning and implementation is pursued proactively.
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There are presently an estimated 4000 industrial zones globally (SEZ’s, EPZ, FTZ’s etcetera), evidently demonstrating the validity of such mechanisms. There is, nevertheless, debate as to the success of those zones and analysis has subsequently identified a number of success components, corresponding to governance, enabling regulatory frameworks, location and forms of services offered. Suffice it to say, it stays worthwhile to explore the learning gained in executing such spaces and the influence on supporting financial actions in a sustainable manner that support constructive industrial, social and environmental outcomes.
The Special Economic Zones and Industrial Parks Programmes of the Department of Trade, Industry and Competition (the dtic) will play a crucial function within the effectuation of South Africa’s economic reconstruction and recovery plan. This finally stems from the SEZ Programme representing the core of the reimagined industrial strategy, which is purposefully structured to stimulate local and foreign direct investments.
Notwithstanding the catastrophic influence of the COVID-19 pandemic on global economies, the value of personal investments within the South African SEZs noticed a R1.8 billion improve from March 2019 to March 2020, while the variety of operational investments rose from 129 to 143 in the identical time frame. It is projected that the number and worth of operational investments will increase by nearly R10 billion when the subsequent monetary 12 months ends.
Industrial Parks and Special Economic Zones represent a key characteristic within the conference of the upcoming and eagerly awaited Manufacturing Indaba. The virtual conference and exhibition, to be hosted between 22 – 25 November 2021, is about to assemble worldwide trade consultants to address technological innovations and evolving developments, whereas in search of actionable options to pressing challenges. The platform will empower thought leaders to change ideas, insights and experiences and serves to raise awareness of emerging alternatives inside the realm that is manufacturing.
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