DTI extends aid to MSMEs in Cebu

CEBU CITY – Department of Trade and Industry (DTI) Secretary Alfredo Pascual and Undersecretary Jose Edgardo Sunico led the distribution of assistance to micro, small, and medium enterprises (MSMEs) during the Visayas town hall meeting at the University of the Philippines (UP) here Friday.

Pascual said the DTI has so far provided PHP8 million under the loan program of Small Business (SB) Corp., Pangkabuhayan sa Pagbangon at Ginahawa (PPG) sari-sari (retail) store kits, and Shared Service Facilities (SSFs).

Five enterprises received a zero-interest loan from SB Corp. under the RiseUp Multi-Purpose Loan, a program that aims to sustain the gains of MSMEs that survived the Covid-19 crisis the past two years.

Ten retail store owners affected by a recent fire in Barangay Looc, Mandaue also received business kits in the form of vouchers worth PHP8,000 each.

The DTI likewise distributed nearly PHP2.93 million worth of SSFs to the Lamac Multipurpose Cooperative for the upgrading of its dairy production and cacao production post-harvest facilities.

Under the SSF program, the DTI also assisted the Pestales Agriculture Cooperative with PHP994,000.for its agri-herbal production.

“Sa DTI, sa ilalim ng Pangulong (President Ferdinand R.) Marcos Jr., makakaasa po kayo na kami mismo ang lalapit sa inyo upang magbigay ng tulong dahil iyon ang ating hangarin para sa Bagong Pilipinas (At DTI, under the administration of President Marcos Jr., you can count on us to bring you our services, assist you and achieve our desire for a New Philippines),” Pascual said.

He said the DTI has launched 615 SSF projects across Visayas since 2013, investing around PHP500 million.

“These initiatives have supported around 61,000 MSMEs and 25,000 other users, creating over 62,500 jobs,” he added.

The DTI also set up 29 One-Town-One-Product stores in the region, assisting 840 MSMEs that generated an estimated of PHP27 million in sales.

Over the last four years, Pascual said SB Corp. released close to PHP2.7 billion to 14,747 MSMEs and another PHP4.3 billion through conduits, cooperatives, lending institutions, and banks. 

The DTI brought its town hall meeting to UP Cebu to touch base with stakeholders such as consumers, entrepreneurs, and business chambers among others, answering stakeholders’ concerns and promoting the government’s services. (PNA)