ETHEKWINI NEWSFLASH

FOR IMMEDIATE RELEASE

22 MARCH 2022

 

EThekwini Municipality reminds businesses, investors, and the public at large to comment on the provisions of the eThekwini Development Incentive Policy (EDIP).

 

The EDIP is currently undergoing a minor review geared to enable the ease of doing business. The review will also support industries by creating an economic environment that is more responsive to the current dynamics. The policy offers a property rates rebate to qualifying applicants in industrial, commercial, and mixed-use developments only.

 

A copy of the incentive policy can be downloaded from https://edge.durban/dataset/durban. Council has approved incentives for 22 compliant applicants/companies since the inception of the EDIP. The Municipality has attracted more than R11 billion worth of investments and foregoes approximately R40 million per annum in the form of rates rebates.

Call for comments close on 25 March. All comments can be directed to Sunayna.boodhoo@durban.gov.za

 

The EDIP aims to attract and incentivise foreign and local investment to the City. The policy, which is reviewed annually, is structed to catalyse growth in targeted localities, grow investment and support in specific sectors of the economy. The policy also seeks to promote highly industrialised technology and stimulate urban regeneration, create jobs, and ultimately enhance the City’s revenue base.

Issued by eThekwini Municipality. 

 

Ends

 

Issued by eThekwini Municipality’s Communications Unit