S. Africa seeks to lure Chinese investment in special economic zones

Source: Xinhua| 2019-09-02 22:38:27|Editor: Mu Xuequan
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JOHANNESBURG, Sept. 2 (Xinhua) -- South African government officials will this week go to China to showcase investment opportunities in the African country's special economic zones (SEZs).

The South African Deputy Minister of Trade and Industry Fikile Majola said Monday they will hold the special economic zones roadshow in China's Chengdu city on Sept. 5-6.

"The Special Economic Zones Program has now entered a full implementation phase, with designated SEZs continuing to show a positive progress in terms of the number of investors operating in the zones," Majola said.

He stated that the number of designated Special Economic Zones in South Africa has now reached 10, covering seven provinces. The number of direct jobs has also increased from 13,466 to 15,737. The number of signed but non-operational investors are currently estimated to be 61, with a total investment value of more than 2.2 billion U.S. dollars.

Majola said they would like to derive value from the cooperation agreement they signed with China on SEZs as South Africa embarks on industrialization and beneficiation.

He believed the SEZs will help the country build the industrial capabilities, boost small enterprise development and integration in strategic value chains, promote coordinated planning among key government agencies and the private sector. Majola said they will use the SEZs to guide the deployment of other necessary development tools.