PLATINUM BELT TO GET SPECIAL ECONOMIC ZONE – MINISTER DAVIES

PLATINUM BELT TO GET SPECIAL ECONOMIC ZONE – MINISTER DAVIES

The Minister of Trade and Industry, Dr Rob Davies announced that a Special Economic Zone be established in the platinum belt of Rustenburg in the North West as part of the government’s programme of mineral beneficiation. Minister Davies was speaking in Johannesburg yesterday when he delivered a keynote address at the Japan Seminar that took place at the Gordon Institute of Business Science. The Japanese Chamber of Commerce and Industry in South Africa and the Japan External Trade Organisation (JETRO) hosted the seminar.

“The current administration is committed to developing mineral beneficiation. Part of these efforts will be the establishment of a Special Economic Zone in the Rustenburg Platinum belt. The purpose of this SEZ will be to develop industries that use platinum as an input. These include jewellery, catalytic converters and fuel cell technology,” said Minister Davies who was speaking on Reindustrialisation in South Africa and the Industrial Policy Action Plan (IPAP).

Minister Davies reiterated that the Department of Trade and Industry (the dti) has made significant gains through various iterations of IPAP since its inception in the 2007/2008 financial year. These laudable achievements were more evident in the clothing and textile, automotive, agro-processing, and film sectors.

“IPAP is neither a policy document nor a wish list. It’s a set of time-bound actions which have to undertaken by different parts of government. These have been successful because they are developed in consultation with the private sector,” said Davies

He added that through IPAP government has succeeded in developing finance institutions and introducing a suite of incentives to support manufacturing and the competitiveness of companies.

According to the Chairman of the Japanese Chamber of Commerce and Industries in South Africa, Mr Yoshiki Takizawa, the purpose of the Japan Seminar was to deepen the mutual understanding for the further development of South African industries. The theme of the seminar was Local Industrialization in South Africa and the Contribution of Japanese Businesses – Lessons from East Asia.

Japanese foreign direct investments are steadily increasing In South Africa. Japanese investments in South Africa have generated approximately 150 000 jobs. Companies such as Toyota are increasingly becoming involved in supplier development programs which are significantly raising the capacity of local manufacturers.

the dti has signed MOUs with the Japan External Trade Organisation (JETRO) and a few Japanese banks through its Trade and Investment Division. The objective of the agreements is to support the increase of trade between Japan and South Africa and to assist Japanese investors entering our market. These relationships has already delivered results, judging by the influx of Japanese delegations visiting South Africa