Gov't intensifies implementation of OTOP
Cagayan de Oro City (19 April) -- The Arroyo government has intensified the implementation of the One-Town, One-Product (OTOP) program through a P15-billion credit fund for this year, in it's effort to promote entrepreneurship through the Micro, Small and Medium Enterprise (MSMEs) and create more jobs in the country.
The Department of Trade and Industry (DTI) will endorse OTOP/individual micro, small and medium entrepreneurs to the Development Bank of the Philippines (DBP) for loan evaluation and funding assistance under the pre-determined risk acceptance criteria.
This will stimulate local economic activity and sustain the anti-poverty thrust of the present administration.
The OTOP program, a priority project of President Arroyo, is a convergence of services where local executives take the lead in identifying, developing and promoting a specific product of competitive advantage within their respective jurisdiction. (PIA 10) [top]