President Cyril Ramaphosa conducted on a guided tour of the GRI Towers factory that forms part of the Special Economic Zone (SEZ) being launched in Atlantis, Western Cape Provinces.
CAPE TOWN - President Cyril Ramaphosa has opened a new Special Economic Zone in the Western Cape town of Atlantis.
Located on the outskirts of Cape Town, Atlantis has for decades suffered from lack of development.
Now it's hoped the new economic zone will create thousands of jobs there.
The town of Atlantis, one of apartheid’s dumping grounds and since the dawn of democracy, nothing has changed much in the area.
The area largely underdeveloped is crippled by unemployment and poverty.
Until now, with the community being designated a Special Economic Zone, there’s hope for the future.
It’s one of nine around the country, with a tenth, on the cards.
A special economic zone is an area where business, taxation, and labour laws, are different from the rest of the country and it is to encourage investment and job creation.
While the project has just been officially launched more than R600-million has already been invested and a change in the socio-economic landscape of Atlantis, is what’s expected.