Manufacturing Circle believes Vaal Triangle should be zoned for special economic development
If government declares the Vaal Triangle a special economic zone, it will not only attract investment back to the area, but also reignite the manufacturing industry, creating jobs and more prosperity.
He noted that the area was plagued by “massive unemployment”, reaching more than 40% in certain townships – “a dire number”.
However, he noted that the Vaal Triangle was an attractive area for investment, as it already had good infrastructure, including roads, rail, pipelines and water. It also has established social infrastructure, including hospitals, housing and education institutions up to tertiary level.
The Manufacturing Circle is engaging with a task team set up at the request of the National Treasury. The team is approaching a number of banks to find ways to stimulate economic growth in the region.
De Ruyter believed the local manufacturing industry could create one-million new jobs if manufacturing had an appropriate share of GDP considering the developmental stage at which South Africa is. This, he noted, would have to be between 28% and 32%.