New special economic zone aims to ultimately create 20,000 jobs
The Department of Trade, Industry and Competition (dtic) has contributed R2.5 billion towards the development of the Tshwane Automotive Special Economic Zone (TASEZ).
The money has helped to unlock a R16 billion investment by Ford Motor company and further R4.3 billion from automotive components suppliers who will occupy facilities within the state-of-the-art Special Economic Zone.
Deputy Minister Fikile Majola said, “We are informed by Ford that up to 6,000 jobs have been created. This is great news.”
The TASEZ was launched by President Cyril Ramaphosa in 2019 following his international campaign to mobilise investment into the South African economy.
Deputy Minister Majola described the speed with which TASEZ is being built as unprecedented in South Africa.
He said in spite of many hurdles that emerged along the way, chief among them being the Covid-19 lockdowns, much progress has been made in the construction process as indications are that 70 percent of the work has been done.
TASEZ aims to create some 20,000 new jobs once it is fully invested and operational, according to its website.
