CEBU, Philippines - The Department of Trade and Industry has picked Cebu as among the six pilot areas for its “Negosyo Center,” a project aimed at preparing the country for the full implementation of the ASEAN Economic Community integration next year.
DTI undersecretary Zenaida Maglaya, as quoted by the Philippine Information Agency, said Negosyo Center, as stipulated by RA 10644 or the Go Negosyo Act of 2014, is for the development of the country’s small and medium enterprises.
“By next year, we hope to establish 100 Negosyo Centers,” said Maglaya.
The Negosyo Center, according to the DTI, is where SMEs can do business in one area, either at the DTI compound or at the respective local government units’ premises.
Apart from helping small and medium businesses, the project is also aimed at providing jobs to the locals.
Maglaya said the growth of SMEs will also translate to more jobs for the people, especially that this industry comprises 99 percent of the total establishments in the country, which provides 66 percent of the total employment for the Filipinos.
In a recent briefing for the AEC integration in Cebu, Maglaya said the country’s developing SMEs can make the Philippines ready and “competitive” for the upcoming global economic event.
“We need to work together to deal with the challenges and opportunities of the Asean Economic Community and identify interventions and initiatives to upgrade industries,” said Maglaya.
The DTI undersecretary shared that since January 2010, 99.65 percent of goods have been traded at zero tariffs in Brunei, Malaysia, Indonesia, Singapore, Thailand and the Philippines, while only very minimal items like sugar, sweet potatoes, swine and others, were covered with tariffs.
She said the country enjoys these “vast promises” and a wide potential for development in terms of international trading, now that the AEC integration is seen to provide access to a market with 600 million people. — Liv G. Campo/NSA (FREEMAN)