RBIDZ iol Investment Boost Expected by 2030
The RBIDZ's success in attracting investments and creating a conducive business environment has been commended by the KwaZulu-Natal Legislature's Portfolio Committee on Economic Development and Tourism, with the zone's efforts expected to have a lasting impact on the province's economy and job market.
The KwaZulu-Natal Legislature's Portfolio Committee on Economic Development and Tourism is set to visit two major investment projects in the Richards Bay Industrial Development Zone (RBIDZ) on March 20, 2025, to assess the zone's progress and potential to propel the province's economy and create jobs.
The committee will evaluate the zone's six operational investments worth R3.33 billion and its role in attracting R247 billion in investments, with the project expected to be operational by 2030. The visit will include stops at Nyanza Light Metals and RBIDZ Technopark, and will be open to the media. Committee Chairperson Mafika Mndebele has highlighted the zone's potential to drive economic growth and job creation in the province.
The RBIDZ has already attracted over R25 billion in investments since its establishment in 2002 and has a strong demand from investors. The zone has created a conducive environment for businesses to thrive, resulting in billions of rands being invested in the province. However, the committee has noted that challenges need to be addressed, including the reliance on specialists from other countries and the need for meaningful transfer of skills to local people.
The committee has urged industrial developers to prioritize skill transfer to local people when implementing major projects, enabling the country to develop adequate skills and ensuring the long-term sustainability of the zone's investments. With its strong investment pipeline and potential for growth, the RBIDZ is poised to play a significant role in driving economic development in the province.