The unveiling of the Durban Aerotropolis Master Plan will have positive spinoffs for KwaZulu-Natal, says Trade and Industry Deputy Minister Nomalungelo Gina.
"Government perceives the 50-year Durban Aerotropolis Master Plan as not just a project for Durban and its future economic boom but for the entire province which will benefit through the economic spin-offs that will arise as a result of the hive of business activities in this Dube Trade Port precinct," said Gina.
Gina said this while addressing the KwaZulu-Natal Investor Awards 2019 at the Durban International Convention Centre on Friday.
The awards are an integral part of the International Investment Conference, and inspired by a need to tell the province's investment success stories.
The master plan covers 32 000 hectares of land as well as 10 000 hectares of green space. The master plan is expected to create 750 000 jobs.
The Aerotropolis, said the Deputy Minister, will turn the entire surface area around King Shaka International Airport into a smart city with diversified economic activities that will boost the provincial economy.
These economic enclaves surrounding huge airports precincts have in many ways unlocked faster goods exports through air transport, increased global connectivity, multi-modal transportation systems and any aviation related businesses.
The Durban Aerotropolis is the only greenfield Aerotropolis in Africa and provides a unique opportunity for investors in various sectors including property, manufacturing, aviation and pharmaceuticals.
"Being the second largest economy in South Africa, KwaZulu-Natal presents a vast array of opportunities for investments with an ideal location. The province has two of Africa's busiest ports located in Durban and Richards Bay with world-class road and rail infrastructure. The province is also a host to a vehicle manufacturer, Toyota," said the Deputy Minister.
She encouraged investors to invest in the province's Dube Trade Port and the Richards Bay Industrial Development Zone.
"The two offers an internationally competitive value proposition for the country with unique offerings for investors and some of which include ready infrastructure for business development, reduced costs for key inputs such as land, water and electricity, and tax relief which includes a reduced corporate tax rate."
At the inaugural Presidential Investment Conference in 2018, President Cyril Ramaphosa announced R300 billion of investments of which over R250 billion worth of projects have entered implementation phase.
The Deputy Minister said KwaZulu-Natal has contributed to the investments with the Dube Trade Port sitting with a total 39 operational investors with a value of R1.3 billion. This investment has created creating 2 821 direct jobs.
The trade port has also secured new investors with a value of R3.2 billion.