https://www.engineeringnews.co.za

DTI temporarily halts manufacturing incentive owing to depleted budget

DTI temporarily halts manufacturing incentive owing to depleted budget

Photo by Duane Daws

28th October 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

The Department of Trade and Industry (DTI) has temporarily suspended new applications for its Manufacturing Competitiveness Enhancement Programme (MCEP), as the large number of applications far exceeded the funds set aside for the programme.

Initially, R5-billion had been set aside for the programme, which was designed as an incentive to support enterprises in the production sectors of the economy, but these funds had now been fully committed.

The MCEP sought to secure higher levels of investment, raise competitiveness and retain employment in the country’s waning manufacturing sector.

To date, the MCEP had supported 1 153 entities acquire capital equipment and reengineer business processes to improve their competitiveness. All assisted enterprises also retained jobs and were committed to black economic empowerment.

The DTI had highlighted the high number of applications it had received under the MCEP in May this year, when it limited the programme incentives to projects requiring investments of less than R50-million.
 
A new application window would be opened in April 2016, pending the availability of funds. All other incentives of the department would continue as normal.

The DTI also emphasised that it would continue to honour all approved applications under the MCEP.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 6 hours ago By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.077 0.132s - 139pq - 4rq
Subscribe Now