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Business

DTI to ramp up spending for MSMEs

The Philippine Star
DTI to ramp up spending for MSMEs
Pernia said "higher infrastructure spending" likely took over in the third quarter.
Andy Zapata Jr., file

MANILA, Philippines - The Department of Trade and Industry (DTI) will seek to further ramp up by 2018 government spending for the development of micro, small, and medium enterprises (MSMEs), which next year will already account for half of the agency’s budget.

The DTI in its proposed national expenditure program is looking at a total budget appropriation of P4.8 billion for 2017.

Of the proposed budget, Trade Secretary Ramon Lopez said projects and programs aimed at MSME development would account for about half of total budget.

“This budget for MSMEs can be improved for 2018 especially in the area of trade promotion to enhance market access here and abroad for our MSME products and generate the demand for the products we produce under our manufacturing and agri-industry development and production innovation programs, plus all the assistance to MSME development,” Lopez said in a text message.

For next year’s budget, the DTI looks to set aside P535 million for the establishment of more Negosyo Centers nationwide.

Negosyo Centers are facilities that help promote ease of doing business and facilitate access to services by MSMEs.

At least P70 million is also being allocated for the implementation of the Shared Service Facilities (SSF) program.
 

BENJAMIN DIOKNO ECONOMIC GROWTH ERNESTO PERNIA GDP GROWTH
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