DTI, private sector to help improve MSMEs market access

MANILA, Philippines — The Department of Trade and Industry (DTI), in partnership with the private sector, including civil society organizations, yesterday launched a movement which seeks to help micro, small and medium enterprises (MSMEs), particularly in the retail sector, recover from the pandemic and become resilient through improved access to market and finance.

To sustain MSME development, the DTI is pushing for the passage of three legislative measures such as the amendments to the Magna Carta on MSMEs, the One Town One Product (OTOP) bill, and Pondo sa Pagbabago at Pag-asenso (P3) bill.

During the celebration of the National MSME Week Day 1 yesterday, the DTI launched the Tatak: Matatag na Negosyo (TMN) Sustainable Stores Movement which aims to help MSMEs, particularly retailers, become future-proof, resilient and sustainable.

Pledging their support as partners for the TMN are Coca-Philippines, Nestle Philippines, Colgate-Palmolive Philippines, Procter & Gamble Philippines, Unilever Philippines, Suy Sing Commercial Corp., ASA Philippines Foundation, ASKI Group of Companies Inc., Philippine Young Entrepreneurs Association, and Philippine Disaster Resilience Foundation.

“Through this whole-of-society coalition of the government, the private sector and civil society organizations, we can provide interventions to micro stores to enhance their management labor capacities, as well as improve their access to market and finance. This, in turn, will ensure their sustainability through the present pandemic and beyond,” Trade Secretary Ramon Lopez said.

He said the DTI sees collaboration with the private sector as vital in helping MSMEs become more competitive and innovative.

Under the TMN, partners can offer retailers with a low interest micro-credits process.

Through TMN, partners can also help retailers build their capacity and improve their business skills, use of digital business tools, as well as of new innovations in retail trade.

TMN is just one of the initiatives to help promote the development of MSMEs in the country.

“To sustain the development of MSMEs, there are a number of legislative measures that DTI is working on with our lawmakers in Congress,” Lopez said.

Among these is the amendments to the Magna Carta on MSMEs, which would seek to extend the mandatory allocation of credit resources to MSMEs.

Also being pushed by the DTI is the OTOP bill to institutionalize the OTOP program which enables localities and communities to develop and promote products rooted in their local culture.

Lopez said the OTOP bill would guide local government units on the assistance and support to be given to MSMEs.

He said the DTI has inaugurated 62 OTOP hubs nationwide which helped 50,323 OTOPreneurs and generated sales worth P5.5 billion.

Through the P3 bill, he said the DTI wants to institutionalize the continuity of the P3 program launched to eradicate the ‘5-6’ money lending system and help MSMEs improve access to credit.

He said P8.8 billion worth of loans have been released so far to more than 200,000 microenterprise borrowers under the P3 program.