Premier Sihle Zikalala made the news on Thursday in Pretoria, where he has been courting international investors.
Damage and devastation caused by last month’s turmoil and rampant theft cost the province R23 billion. More than 300 individuals were killed, and hundreds were laid off, shattering worldwide investor confidence.
According to Zikalala, while KZN picks up the pieces, plans for economic development are in the works. KZN’s economic development minister says a third economic zone will be dedicated to clothing and textile. The main hub will be in Ladysmith, he says, with the Dube Trade port and Richards Bay Industrial Development zone complementing them. KZN has already got two special economic zones which offer tax incentives to investors.