DESTEA MEC launches industrialization support incentives 27 May 2021
During the tabling of the 2021/22 Budget Vote, MEC Makalo Mohale emphasised the importance of localization and industrialization for economic growth, recovery and transformation. “Through industrialization, we will unlock productive potential of our province’s productive assets for massive localized employment.” To this effect, MEC Makalo Mohale will be announcing the Industrialization Support Incentives aimed at accelerating, reconstructing and growing the Free State economy.
The specific objectives of the Industrialization Support Incentives are:
- To stimulate local domestic manufacturing and production;
- To ensure job retention and increases in new job creation within industrial zones;
- To reduce economic concentrations;
- To assist SMME to transition to industrial production levels;
- To stimulate participation in large business and government supply chains;
The virtual launch will take place on the 28th May 2021 at 10:00 on ZOOM. To qualify, applicants should provide the following;
- Bankable business plan
- CIPC Registration
- South African citizenship
- Free State resident
- Central Supplier Database (CSD) registered
- Valid Tax Clearance
- Licencing (Business Act no 7 of 1991), where applicable
- Business Plan or Proposal
- Financial Statements (12 month’s bank statements)
- Business must be operational for at least 12 months
- BBEEE Status Level 1 Contributor
- Procure locally manufactured products from other SA SMMEs
- Demonstrate ability to produce own products
Please note: Applications will be open from 31 May 2021 to 15 June 2021.
For the application link and application details please visit www.destea.gov.za or contact Mrs Phumla Ngqeza at 076 884 9656 / ngqezap@destea.gov.za For more details join the MEC on Zoom on the 28th of May 2021 at 10:00 for the virtual launch. Please find details below: Meeting ID 857 0438 4484 Password: 183 400
The virtual launch can also be followed on the following online platforms: - Official Destea - MEC Destea – Makalo Mohale - Free State Provincial Government
Media enquiries:
Kgotso Tau
Cell: 082 833 9595
E-mail tauk@destea.gov.za
