JOHANNESBURG – South Africa’s trade and industry minister Rob Davies
is inviting public comment on draft regulations on the governance and
composition of special economic zones (SEZs), his department said on
Wednesday.
is inviting public comment on draft regulations on the governance and
composition of special economic zones (SEZs), his department said on
Wednesday.
The South African government implemented a new SEZ policy after
identifying weaknesses in its Industrial Development Zones (IDZ)
programme whose main aim was to attract foreign direct investment and
promote the export of value-added commodities.
identifying weaknesses in its Industrial Development Zones (IDZ)
programme whose main aim was to attract foreign direct investment and
promote the export of value-added commodities.
The SEZ Act commenced by presidential proclamation in February 2016
and introduced a new regulatory framework for the planning, design,
development, management and operation of special economic zones. The new
regulatory framework replaces the old framework for IDZs.
and introduced a new regulatory framework for the planning, design,
development, management and operation of special economic zones. The new
regulatory framework replaces the old framework for IDZs.
The
trade department said the difference in the governance and
institutional framework required in the new SEZ Act from the old IDZ
regulatory framework was “very significant” and most IDZ operators would
require time to comply.
trade department said the difference in the governance and
institutional framework required in the new SEZ Act from the old IDZ
regulatory framework was “very significant” and most IDZ operators would
require time to comply.
