Business News

Business News

Economic Zones (SEZs) in the Pipeline

 

The SEZs are aimed to promote economic growth and job creation, by setting up enabling environments for developing targeted industrial activities and attracting both domestic and foreign direct investment in manufacturing and tradable services.

 

The Department of Trade and Industry has identified 10 potential SEZs countrywide, and will soon be conducting feasibility studies to determine their viability.

Presenting the SEZs Bill to Parliament's Portfolio Committee on Trade and Industry in Cape Town on 26 April 2013, the Minister of Trade and Industry, Rob Davies, said his department was close to finalising SaldanhaBay in the Western Cape as an SEZ. South Africa’s existing industrial development zones (IDZs) in RichardsBay, East London and Coega outside Port Elizabeth will also fall under the SEZs programme.

SEZs included free ports, free trade zones, IDZs and sector development zones.

SA Voted Top African Retail Market

 

Almost a quarter of companies surveyed said Africa would be the "new retail growth story" in the next decade

South Africa is the top ranked market for retail expansion in Africa in the latest survey by United Kingdom financial services provider Barclays. The survey asked British retailers about their attitudes towards international expansion.

While the United States remains the top destination, Africa is emerging as an attractive market to invest in, the survey found.

"Africa remains one of the final frontiers for retail, but the recent acquisition of South Africa's Massmart shows how seriously global retailers are now taking the continent," Barclays said in a statement. 

The DTI Launches the Industrial Policy Action Plan (IPAP) 2013/14 – 2015/16

The Action Plan outlines government’s initiatives to accelerate the industrialisation of the South African economy and reflects continuous improvements and strengthening of concrete industrial development interventions.

The IPAP 2013/14 – 2015/16 was launched by the Minister of Trade and Industry, Dr Rob Davies, in Sandton on 4 April. In its fifth edition, the Action Plan provides an opportunity to reflect on key achievements experienced since the publication of the first IPAP in 2007.

The IPAP had stabilised South Africa's clothing sector, turned around the automotive sector and added jobs in the business process services sector.

The Action Plan also introduced procurement designation to boost local manufacturing, by designating certain products requiring minimum levels of local production and content in order to qualify for procurement by the State. Earlier this year, Minister Davies further designated electrical valves, manual and pneumatic actuators, electrical and telecommunications cables, and components of solar water heaters to the list of designated products.

Quarterly employment statistics

Key findings for the quarter ended December 2012

 

 

Employment in the formal non-agricultural sector increased between the quarters ended September 2012 and December 2012.

The December 2012 Quarterly Employment Statistics (QES) survey shows that the number of people employed in the formal non-agricultural sector of the South African economy increased by about 22 000 persons (+0,3%) from

September 2012 (an estimated 8 439 000 employees) to December 2012 (an estimated 8 461 000 employees).

 

Gross earnings paid to employees in the formal non-agricultural sector increased between the quarters ended September 2012 and December 2012.

 The gross earnings paid to employees during the quarter ended December 2012 (October 2012 to December 2012) amounted to R393 833 million. This reflects a quarterly increase of R21 925 million (+5,9%) compared with the quarter ended September 2012 (July 2012 to September 2012).

 

Employment in the formal non-agricultural sector increased between the quarters ended December 2011 and December 2012. 

The December 2012 Quarterly Employment Statistics (QES) survey shows that an estimated 8 461 000 people were employed in the formal non-agricultural sector of the South African economy. This reflects an annual increase of about   82 000 employees (+1,0%) compared with December 2011 (an estimated 8 379 000 employees).

 

Gross earnings paid to employees in the formal non-agricultural sector increased between the quarters ended December 2011 and December 2012.

The gross earnings paid to employees during the quarter ended December 2012 (October 2012 to December 2012) amounted to R393 833 million. This reflects an annual increase of R28 460 million (+7,8%) compared with the quarter ended December 2011 (October  2011 to December 2011).

 

In Stats SA http://www.statssa.gov.za/publications/statskeyfindings.asp?PPN=P0277&SCH=5483