ASPEN Pharmacare’s open door policy with the government could soon pay off, with the establishment of a sector specific Special Economic Zone (SEZ).
Stavros Nicolaou, Aspen senior strategic trade development executive, said in an interview although it was not practical to move Aspen’s multibillion-rand manufacturing site to the Coega Industrial Development Zone, the firm was in talks with the government to establish a sector specific or factory designated SEZ.
This comes after a recent high-delegation government visit to Aspen’s manufacturing site in Port Elizabeth.
An SEZ specifically focused on the pharmaceutical sector would be beneficial for Aspen because it could include various incentives in terms of tax and trade exemptions for the company, while the government, in return, would expect economic and job-creation benefits for the region.
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