Cape Town: Capetonians are invited to provide their input on the Manufacturing Support Policy of the City of Cape Town, with the aim to build on the measures outlined in the 2018 policy.
Member of the Mayoral Committee for Economic Growth – Alderman James Vos said that the Cape Town is open for business. Since the establishment of the dedicated Investment Facilitation Branch within the Economic Development and Investment Department, where they have worked continuously to cut the red tape for companies, speed up the approvals and showcased the opportunities in the city.
Vos added that this new policy is the next step in making Cape Town the easiest and most attractive place to do business in South Africa.
Reportedly, the 2018 Investment Incentives Policy proved to be quite valuable and combined financial and non-financial incentives to stimulate economic growth. While uptake was strong in the manufacturing sector, other targeted industries such as film, IT, and business services showed limited interest.
In addition to this, the large-scale financial incentives proved costly and, in some cases, were used by some firms to expand existing operations without creating significant new jobs.
While reviewing the policy, the City of Cape Town found that non-financial incentives such as streamlined approvals and hands-on facilitation which were prised by investors.
However, with a revised focus on supporting the manufacturing industry, the draft policy is looking to extend support across all 33 industrial areas in the metro, ensuring that opportunities are more evenly spread.
The industry prioritises non-financial support, including faster approvals, helping them with permits, and active investment facilitation.
Target job creation introduces smaller, strategic financial elements only where they add the most value i.e. development application fee waivers with full exemption of land use, building plan and wayleave application fees.
Notably, it offers a Generic Environmental Management Programme (GEMP) available for development projects within the Atlantis urban area that require biodiversity offsets for their Environmental Authorisations.
According to Vos, this is a simpler, smarter, and more cost-effective policy. It positions Cape Town as a globally competitive destination for manufacturing investment. Most importantly, it is jobs-focused. By offering the kind of support that businesses really need, Cape Town is building a platform for sustainable growth.