In his report covering the period from April to November this year, Mr Kwenaite said 2002 “has been a spectacular experience” filled with major economic development breakthroughs for the region.

“The visible progress of the Coega IDZ project, the success of the Small Business in Overdrive 2002 Expo and implementation of the municipality’s procurement policy are indicative of the volcanic potential of this metro and the greater Eastern Cape,” he said.

Mr Kwenaite added that also of significance was the establishment of the Uitenhage-Despatch Development Initiative.

He said in the new year the municipality would be looking forward to again hosting the 2003 Small Business in Overdrive Expo and further investment announcements would be made.

Some of next year’s major economic developments are the acceleration of the proposed international conference centre, which is part of the R2-billion Nelson Mandela Statue of Freedom at the entrance of the harbour.

The R800 000 branding of the metro, giving it an icon on which to market itself internationally, will also be launched in February and a one-stop centre for trade and investment promotion will be established in the city.

One of the projects embarked upon is the R410-million Njoli Square upgrading, which will be phased in over four years. Work has already started.

The key aims of this project are the enhancement of access roads and the development of informal markets and public places.

A gateways and beautification project aims at improving all access entrances into the metro, creating a good first impression.

Work has already begun on the R80-million project with the planting of palm trees along Allister Miller Drive at the airport.

The Statue of Freedom is viewed as the anchor tourist attraction, and it is estimated that it will create between 6 000 and 9 000 jobs when it gets off the ground.

The R56-million Khulani Corridor, a transport infrastructure linking Korsten to Motherwell, has already been commissioned and will be completed in 2007.