KwaZulu-Natal is ideally situated to grow its maritime economy Building a Smart Port City at Durban.
ational government wants to see the Oceans Economy contribute R29-billion to the national gross domestic product by 2019 and a possible R177-billion by 2033. This is part of the broader National Development Plan (NDP). Important sectors that could contribute to economic growth and increased employment are shipbuilding (something that KwaZulu-Natal already does), the creation of a merchant fleet and the development of South Africaâ€™s small harbours into engines of economic growth and opportunity. The last-named idea is the subject of a major project being driven by the national Department of Public Works. An important element in securing all of this growth will be the creation of reliable marine governance and security. KWAZULU-NATAL BUSINESS 2017/18
Other important sectors that fall under the Oceans Economy are the oil and gas sector (including the servicing of rigs and vessels) and aquaculture. Several fish-farming projects are planned for KwaZulu-Natal (mostly with kob) and a catfish feasibility study is under way.
Advantages With its two important ports, KwaZulu-Natal is ideally located to take advantage of the focus on the maritime economy. Between them, Durban and Richards Bay handle 78% of South Africaâ€™s cargo tonnage. The Dube TradePort located inland expands the capacity of the province to import and export goods.
Published on May 3, 2013
KwaZulu-Natal Business 2016/17 is the eighth edition of this highly successful publication that has since its launch in 2007 established its...