DTI incentive plan a major boost to cars and clothing sectors
Rob Davies has stressed the need for a well-resourced industrial policy and for incentives to be scaled up to create jobs in struggling sectors
The department of trade and industry’s incentive programme has had a major effect on the automotive and clothing and textiles sectors, and should be scaled up to create jobs, the department’s director-general, Lionel October, said on Tuesday. The budget tabled in parliament last week by finance minister Tito Mboweni included R19bn for the department’s incentive programme over the next three years, with R7.3bn earmarked for 2019/2020. This will cover incentives for the automotive sector, clothing and textiles, business process outsourcing, the black industrialist programme, film industry, agroprocessing, special economic zones and industrial parks. October said in an interview ahead of a briefing by trade and industry Minister Rob Davies that the budgetary allocation was more or less stable compared with 2018.
He stressed the need for a well-resourced industrial policy and for incentives to be scaled up to create jobs in sectors that were struggling such as steel, metals, chemi...