Govt acknowledges shortcomings in programme

Government has acknowledged serious shortcomings in South Africa’s Special Economic Zone programme, with a review identifying structural weaknesses that could undermine efforts to attract investment and drive industrialisation.

Trade, Industry and Competition Minister Parks Tau says a World Bank review found that too few industrial parks are being developed by the private sector, non-financial incentives for investors are inadequate, and there are no formal intervention mechanisms for underperforming Special Economic Zones.

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