DTI spends P1.8M for MSMEs shared service facilities

MANILA, Philippines - The Department of Trade and Industry (DTI) has provided P1.8 million worth of shared service facilities (SSF) for abaca, bamboo and cheese producers in Negros Oriental.

In a statement yesterday, the DTI said the processing equipment and machines were given to members of the cooperatives Little Children of the Philippines Foundation, Inc., Dairy Farmers Association and the Philippine Bamboo Foundation Inc.

 Following the call of President Aquino for all sectors of the economy to be part of the country’s inclusive growth, the DTI saw the need to address the market’s stringent requirements for good quality products and increase the competitiveness of micro, small and medium enterprises (MSMEs) in Central Visayas through the SSF program.

The SSF aims to provide MSMEs common service facilities, modern equipment and access to the latest technology.

The program is being undertaken to help MSMEs become competitive and tap a wider market.

The SSFs are expected to directly generate jobs, help the country achieve inclusive economic growth and alleviate poverty.

Trade undersecretary Zenaida Maglaya said earlier the DTI intends to provide assistance to more MSMEs through its different programs including the SSF this year.

“We have assisted 70,000 (MSMEs). We hope to increase by another 20 to 25 percent this year to help generate more jobs.”

For this year, she said the DTI is spending a total of P700 million to provide a total of 500 SSFs nationwide.

Last year, the DTI provided a total of 474 SSFs, higher than its target of 300.

Maglaya said the DTI likewise intends to continue implementing the SME Roving Academy.

Through the SME Roving Academy, entrepreneurs are provided with managerial capabilities as well as knowledge on marketing preference, technology and lifestyles to help them establish and grow their businesses.

MSMEs account for more than 90 percent of the country’s total businesses.