Pretoria - The Department of Trade and Industry (dti) has announced that it is temporarily suspending new applications for the Manufacturing Competitive Enhancement Programme (MCEP) with immediate effect.
“This is necessitated by the fact of the very large number of applications across the manufacturing sectors, which now far exceeds funds set aside for the programme,” said the dti on Tuesday.
The programme offers incentives designed to drive growth and promote competitiveness in the manufacturing sector. It includes a package of incentives specifically designed for established manufacturers with the aim of promoting competitiveness and retaining jobs.
The dti said over R5 billion was originally set aside for this programme and is now fully committed.
MCEP was designed as an incentive to support enterprises in the production sectors of the economy soon after the onset of the global economic recession to weather very adverse market conditions, secure higher levels of investment, raise competitiveness and retain employment.
“The dti is confident that these objectives have been met. The MCEP has supported 1 153 entities with acquisition of capital equipment and reengineering of business processes to improve their competitiveness. All assisted enterprises have retained jobs and are committed to Black Economic Empowerment,” said the dti.
In addition, the department will continue to honour all approved applications.
A new application window will be opened in April 2016 pending availability of funds.
All other incentives of the department will continue as normal. – SAnews.gov.za
