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Davies to launch R5.8bn boost for manufacturing
A R5.8bn manufacturing competitiveness enhancement program (MCEP) would be launched later this week, Trade and Industry Minister Rob Davies said in a statement on Sunday.
(Image: GCIS)
"The MCEP seeks to generate much greater confidence amongst manufacturers to invest now and to see out the current period of significant economic uncertainty and emerge much more competitively out of it," he said.
The program aimed to address the South African manufacturing industry's ability to compete against imports and against its competitors for other export markets.
The money would be made available over a three-year period and extend to engineering services and other agencies supporting the manufacturing industry.
The launch would take place at the Cape Town Lodge tomorrow, 15 May.
Source: Sapa via I-Net Bridge
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