DTI to spend P34.5M for MSME services

MANILA, Philippines - The Department of Trade and Industry (DTI) is planning to spend P34.553 million for the rollout of shared service facilities (SSF) to support micro, small and medium enterprises (MSMEs) in the Davao region this year.

Ma. Belenda Ambi, DTI officer-in-charge for the Davao region, said in a statement the department intends to provide more SSFs this year to a greater number of MSMEs.

“We hope that we can help more MSMEs improve, not just their productivity but also the quality of their products,” she said.

The DTI approved 51 SSF projects worth P24 million last year.

Of the total approved projects, 34 have been established while 17 are set to be awarded to the beneficiaries early this year.

The projects are spread out in the region’s five provinces, with 13 in Davao del Norte, 12 in Davao Oriental, 11 in Davao City, nine in Davao del Sur, and six in Compostela Valley.

Launched last year, 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. MSMEs make up more than 90 percent of the country’s registered businesses.

It also aimed at creating jobs which would help the country achieve inclusive economic growth.

The DTI provided a total of 474 SSFs nationwide last year.

For this year, the department has allotted P700 million for 500 SSFs in the country.