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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 improvement is recognised as one of the nation’s prime priorities, therefore numerous emerging opportunities abound for Africa to industrialize. To seize such opportunities, African governments are required to implement revolutionary approaches to industrial coverage, certainly one of which is an increased give consideration to the position of Special Economic Zones (SEZs) and industrial parks as instruments of industrial improvement.
Industrial Parks and SEZ’s are two of the spatial interventions identified by the South African authorities and are subsequently aligned with international approaches. Industrial areas can be leveraged as catalysts for socio-economic development. All things considered, such spaces are recognised as enablers and are therefore often managed as such, and never for rent-seeking functions. Moreover, industrial parks and SEZs successfully lend themselves as spaces for piloting and experimentation of latest applied sciences and completely different approaches to industrial development, in addition to for group and environmental programmes owing to the nexus between these three elements.
Industrial parks and SEZs, as nicely as related industrial spaces, have the potential to develop the economy as a end result of owing to the alternatives for employment and establishing new companies and worth chains. This consequently develops the tax base and native economic activity which is critical in facilitating social growth. The myriad of interventions established via industrial areas support industrial and financial improvement, the transition to sensible cities and transformation to a green economy in addition to facilitate adoption of 4th Industrial Revolution options. What’s extra, 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 offer elevated value, assuming the mandatory planning and implementation is pursued proactively.
READ: Germany pledges US $116M for renewable power in Africa
There are at present an estimated 4000 industrial zones globally (SEZ’s, EPZ, FTZ’s etcetera), evidently demonstrating the validity of such mechanisms. There is, however, debate as to the success of these zones and analysis has subsequently identified a quantity of success elements, similar to governance, enabling regulatory frameworks, location and forms of services offered. Suffice it to say, it stays worthwhile to discover the training gained in executing such areas and the influence on supporting economic actions in a sustainable method that assist optimistic 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 important position in the effectuation of South Africa’s economic reconstruction and restoration plan. This finally stems from the SEZ Programme representing the core of the reimagined industrial strategy, which is purposefully structured to stimulate native and international direct investments.
Notwithstanding เพรสเชอร์เกจ of the COVID-19 pandemic on global economies, the value of personal investments in the South African SEZs saw a R1.8 billion increase from March 2019 to March 2020, while the number of operational investments rose from 129 to 143 in the identical time-frame. It is projected that the quantity and value of operational investments will improve by almost R10 billion when the next financial 12 months ends.
Industrial Parks and Special Economic Zones characterize a key characteristic within the convention of the upcoming and eagerly awaited Manufacturing Indaba. The digital convention and exhibition, to be hosted between 22 – 25 November 2021, is about to assemble worldwide business consultants to handle technological innovations and evolving developments, while in search of actionable solutions to pressing challenges. The platform will empower thought leaders to exchange ideas, insights and experiences and serves to raise awareness of emerging alternatives inside the realm that’s manufacturing.
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