DTI bares plans to further develop MSMEs

CLARK FREEPORT -- Trade and Industry Secretary Ramon Lopez bared future initiatives of the National Micro, Small and Medium Enterprises (MSME) Development Council to further develop small businesses.

“Guided by our MSME Development Plan 2017-2022, the council have outlined some programs to continue with our nationwide campaign of MSME seminars, Kapatid Mentor Me seminars, mentoring with Go Negosyo; strengthen the institutions that are involved in MSME development like SB Corporation in terms of lending; and the crafting of Implementing Rules and Regulations for Republic Act 11032 otherwise known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018,” Lopez said during the National MSME Summit 2018.

He also hopes for the passage of the new corporation code which allows one person corporation.

“We hope to address operational and policy issues concerning access to finance by MSMEs and hope for the passage also of the secured transaction bill that will improve access to finance, better access through alternative collaterals,” Lopez added.

In addition, he said they are planning to develop specific finance-related programs for

MSMEs and push intensified information campaign and technology matchmaking activities to help them go into digital technology as well in terms of education, in mentoring, in product development, finance, market and e-commerce.

“We launched a digital mentoring Go Negosyo wherein mentoring can happen in a mobile phone. We also established mechanisms to ease MSME compliance with regulatory and market standards,” the official said.

Lastly, he mentioned that the Food and Drug Administration under the Department of Health will establish a special lane for MSMEs to facilitate the processing of their applications.