Atlantis, an industrial suburb an hour outside Cape Town, will stand to benefit when the local government declares it a special economic zone.
The move comes after a proposal was put in place to revitalise the area following the closure of numerous factories and companies in the area, leading to mass unemployment, poverty and a rise in crimes such as gang violence.
Western Cape Economic Opportunities MEC Alan Winde commended all those involved in bringing the proposal to fruition, saying that the project will be a much-needed boost with countless job opportunities for locals.
“Thirty days were in the last stretch. Please comment and let's see the green economy going from strength to strength from here.”
The special economic zone will ensure that investors who set up shop will be eligible for tax reliefs and in some cases, an energy subsidy, making them attractive opportunities.
The City of Cape Town hopes to secure a further R1.8 billion by 2022, focusing on developing green technologies.