malaysiangMANILA: The Department of Trade and Industry (DTI) had been tasked to uplift the condition and competitiveness of the country’s micro, small and medium enterprises (MSMEs) through digitalization and the use of technology, its acting chief said Saturday.
DTI Acting Secretary Cristina Roque said during the Saturday News Forum in Quezon City that President Ferdinand R. Marcos Jr.’s marching order is to boost income and MSME industry in general.
‘For us in DTI, we will really do everything for the MSMEs to be able to grow their business. Doon kami naka-focus (We are focused there),” she said.
‘We’re not in the business of just product development. We are in the business of selling these products and making a good income out of these products, kasi kapag lumakas itong produkto na ito (because when these products grow strong in the market), we will be able to give jobs to more people,’ she added.
Roque, previously the Undersecretary for the MSME, stressed the need to use digital platforms to make MSMEs competit
ive, considering the Philippines’ large population of 115.6 million, which will be a big market for their products.
MSMEs must take advantage of this, Roque said, adding that the country’s large population is actually attracting foreign investors to put their money in the Philippines.
‘This is a very important sector of the businesses in our country because this comprises 99.5 percent of the business in our country and 60 percent of the labor force, therefore, this cannot be ignored,’ Roque said of the MSMEs.
Roque also mentioned the DTI’s five-point strategy for the MSMEs that she plans to implement, including digitalization and artificial intelligence (AI), diversification, and the provision of funding.
‘We must go digital and we must also use AI to be able to help us or to assist us, for example question-and-answer. So, instead of putting time and effort to answer questions or replying to different text messages or inquiries, we can use AI to be able to do this part while we focus on growing our busine
ss,’ she said.
In terms of diversification, Roque said businesses cannot rely on a single income and must have a second source to ensure security and profitability.
To fund MSME operations, the government has been extending easy loans with low-interest rates.
‘When we started to come in SB (Small Business) Corp., we made loans easier for the MSME. Before, you needed to have a collateral,’ Roque said of the financial assistance scheme to MSMEs.
Roque also previously served as chairperson of SB Corp., which funds the MSMEs.
‘So, we have to understand that MSMEs don’t have collateral. They’re just actually — some are startup, some are just getting started so definitely they don’t have collateral,’ she said.
Roque officially assumed the role of Acting DTI Secretary during a turnover ceremony on Friday, attended by her, predecessor Alfred Pascual.
In her inaugural address, Roque outlined her vision for the agency and highlighted the importance of collaboration with stakeholders to achieve sustainable econo
mic growth and inclusive development.
Meanwhile, Pascual thanked the DTI for its support during his tenure and expressed confidence in Roque to drive the country’s economic growth and development.
‘I extend my deepest gratitude to the entire Department as we worked on programs that complement President Ferdinand R. Marcos Jr.’s vision of a Bagong Pilipinas (New Philippines),’ he said. ‘I am confident that under the leadership of Acting Secretary Roque, the DTI will continue to push forward programs that will empower businesses and consumers.’
During her time as Undersecretary, Roque also managed the Bureau of Marketing Development and Promotions, the OTOP (One Town, One Product) Program Management Office and the Comprehensive Agrarian Reform Program Management Office.
She also oversaw the operations of the Cooperative Development Authority.
Source: Philippines News Agency
