DTI Minister Rob Davies launched MCEP earlier this year as a package of incentives for established manufacturers. It aims to promote competitiveness and ensure job retention. Davies says that the incentives have been designed to improve the general ability of the South African manufacturing industry to compete against imports while outrunning competitors in global export markets.
"We're taking a leaf out of the books of [Asia's fast-growing emerging economies who have] relied on the manufacturing sector to drive economic growth and ... raise competitiveness in [the] manufacturing sectors," Davies said. The DTI said in its Allafrica.com statement that MCEP aims to enhance the competitiveness of manufacturing sectors impacted by the currency, the global economic crisis and escalating electricity costs.
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