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PIA Press Release
2008/02/14

Financing forum on SMEs slated in Antique

by EA Abasquez

San Jose, Antique (14 February) -- The Department of Trade and Industry (DTI) here has slated a Financing Forum on Micro Small, and Medium Enterprise this month among stakeholders and those involved in the One-Town-One Product (OTOP) Program disclosed Jocelyn Perez Senior Trade and Industry Devt. Specialist

These entities are involved on trading, services, food processing and retailing business among others.

The DTI in fulfillment of its mandate conducts training, orientation and seminar on various aspects of business operation, such as consumer protection and awareness, product standard, trade laws, participation in trade fairs, product development, packaging and labeling and product design among others. DTI likewise provides other services like linkages to buyers.

Owners of food establishments are required to undergo food handling, bar coding, BFAD licensing and conduct seminars on current good manufacturing practices, Perez said.

The MSMEs here comprise the major sector engaging in economic activities, especially in micro and small enterprise categories. Some few cooperatives may qualify under the Medium Enterprise category, the source said.

Given adequate support and incentives, Micro, Small and Medium Enterprises (MSMEs), already considered as the backbone of economic activities in the countryside, can contribute greatly to sustaining the Philippine economic growth amid the slowing down of the United States economy.

Presidential Management Staff (PMS) Director General Serge Remonde, who is also the oversight official for MSMEs stressed as he noted that 99.6 percent of all registered companies in the country are MSMEs, and account for 70 percent of employment nationwide.

The MSMEs contributed significantly to the country's economic resources, especially to the 7.3 percent growth in the Gross Domestic Product (GDP) in 2007, which is the latest in 31 years, Remonde said during a press briefing recently in Malacaņang on the Arroyo administration's microfinance program, PIA report said. (PIA) [top]

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