Manufacturing Investment Programme (MIP)
The scheme has been cancelled by the DTI on 20 September 2013
Although it was intended to be implemented until July next year, the MIP has met with overwhelming interest from industry, the Department of Trade and Industry says, with the result that the six-year budget set aside for the programme has been oversubscribed.
“The MIP was introduced during 2008 with an objective to support investment in new and expansion projects by small and medium-sized enterprises in the manufacturing sector,” the deputy director-general of the department ‘ s industrial development and incentive administration division, Tumelo Chipfupa, said on Thursday, 19 September 2013.
He said that although the programme was intended to be implemented until mid-2014, its oversubscription had necessitated its suspension earlier than originally intended.
Mr Chipfupa said that by the end of June this year, about 2,000 new and expansion projects in the manufacturing sector had been approved under the MIP, with more than R2bn disbursed to enterprises.
At Arbor, we strongly advise prospective clients to make use of the Manufacturing Competitveness Enhancement Programme (MCEP), which was announced by the Department of Trade and Industry during June 2012.