The SB IDZ Licencing Company Bill was at its final stage and the DA in the Western Cape says it is pleased with the progress that has been made by the Standing Committee on Economic Opportunities, Tourism and Agriculture in the Western Cape, together with all stakeholders. The oil and gas service sector forms part of the Western Cape’s strategic objectives and aims to increase direct jobs by more than 21,000 within the next five years.
The draft of the SB IDZ Licencing company Bill 2015 was referred to the Standing Committee on 28 February 2016 for consideration and reporting. Public hearings were conducted in Saldanha Bay and Cape Town on the 1st and 2nd of March. 2016. The Standing Committee deliberated the contents of the Bill and took into consideration both, written and verbal inputs made by all stakeholders. The informal and formal consideration of the Bill was concluded by the Standing Committee on 22nd March 2016.
This bill deals with only the essential provisions and is not isolated in its existence, but fits into a whole host of national legislation -more specifically the Special Economic Zone Act, the Companies Act and the PFMA. Without this Bill, the SB IDZ cannot transact or conclude its property agreements with the IDC and TNPA, nor can it transact with SARS.
The West Coast District economy contributes to 32% of the Western Cape GDP in 2013 and the fourth largest employer within the Western Cape. The development of the SB IDZ forecasts R53,4bn cumulative contribution to the WC GGP by the end of 2020, with an approx. R8,2bn in cumulative taxes back to the national fiscus.
As Chairperson of the Standing Committee on Economic Opportunities, I would like to extend my gratitude to everyone involved in the process for their continued dedication and hard work throughout the bill process. The DA led Western Cape Government continues to lead the way in youth development and affording the people of the Western Cape endless opportunities.