Johannesburg is considering creating tax-friendly zones to boost economic growth, says Franco de Lange, FF Plus councilor and chairman of the Article 79 Committee for Economic Development for the City.
De Lange says this concept is being applied internationally with great success to stimulate economies that will also benefit from surrounding business enterprises. This is an excellent way to attract local and even overseas investors.
According to De Lange, the Economic Development Review Committee has visited some microeconomic and informal business areas in recent months, with excellent growth potential and associated job creation potentials.
“The involvement of the committee in small, medium, and micro enterprises has made it clear that a new strategy must be developed to facilitate the process with the purpose of identifying areas with industries that are suitable for this purpose.”
“The city’s property portfolio is currently managed by Joburg Property Company. After a five-year audit review and years of underfunding and negligence by the previous (ANC) government, we are now ready to start a rezoning process to be ready for investment in housing and commercial projects.”
“The department of economic development, in collaboration with municipal departments and the mayor’s office, is currently working on a new economic strategy for the city and this new and properly funded plan will be implemented early next year.”
“The FF Plus in Johannesburg, part of the local government, is committed to the economic growth of the city and the associated creation of jobs,” said De Lange.
Read the original article in Afrikaans on Die Vryburger
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