Trade Dept. shells out P100M to grow small businesses

To develop the micro, small and medium enterprise (MSME) sector, the Department of Trade and Industry on Tuesday said it has allotted P100 million for it MSME clustering project this year.

 

“To move forward from our accomplishments in industry clustering last year, the DTI has allotted P100 million to back industry clustering activities nationwide and additional finds from other programs,” Trade Undersecretary Merly M. Cruz noted in a statement.

 

It will be used to build capacity among industry clusters in next three years.

 

Among the 14 industry clusters the department has prioritized are the raw materials supply chain, processed tropical fruits, processed fish and marine products, leveraging industry supply chain network for tourism, processed meat and livestock, other agri-based industries, coco products, rubber, information and communication technology, metals and metal works, furniture and furnishings, ceramics and pottery, mining, and renewable energy.

 

Twelve are in Mindanao, eight are in Luzon, and four are in the Visayas.

 

Some of the industries were earlier identified under the National Industry Cluster Capacity Enhancement Project, a three-year program of the Trade Department and the Japan International Cooperation Agency.

 

“These projects supporting industry clustering are all part of the business development services of the department to advance its “big push” for MSMEs or the strategy to create sustainable employment in the countryside through development of competitive and innovative enterprises,” said Cruz.

 

Last year, the necessary assistance the industry clusters needed were identified last year, she said, noting “... we will now execute action plans based on this assessment for each industry cluster.” — VS, GMA News