Hopefully, the upcoming introduction of a new maritime shipping policy streamlining the registration and taxation of ships "will increase thoroughfare, make South African ports more competitive and in turn promote economic development."
The change is necessary because existing shipping policy has effectively priced South Africa's ports out of the market, according to Business Day. Outdated legislation and an uncompetitive taxation regime have made South Africa unattractive to international operators, and this has had a hugely negative effect on national maritime capacity and damaged SA's economic prospects, especially with regard to intraregional trade.
The new policy's focus on efficiency offers hope of reversing past mistakes, taking advantage of growing African maritime activity, Business Day says.
Read the full article on www.businessday.co.za
