DTI and DOT to develop credit facility for MSMEs

The Department of Tourism (DOT) and the Department of Trade and Industry (DTI) will be working hand-in-hand in developing accessible funding for tourism entrepreneurs, Tourism undersecretary Alma Rita D. Jimenez announced.

Jimenez said that micro-small-medium entrepreneurs (MSMEs) will be prioritized in this initiative to encourage tourism-related businesses.

Aside from tapping DTI for making credit facilities easily accessible to MSMEs, sans the stringent requirements, DOT will also tap potential business ideas for Filipinos who may want enter into tourism related businesses.

The Duterte administration mandated DTI to assist MSMEs and provide trainings and seminars for them. DTI is now headed by MSME advocate and former Go Negosyo executive director Ramon Lopez.

"Go Negosyo", a movement close to the heart of Lopez, commits to continue its 11-year private-sector advocacy movement to support the government in helping communities to build a country of enterprising Filipinos and inclusive prosperity.

Helping Filipinos exploit the opportunities in tourism through entrepreneurship will not only encourage the enterprising Filipinos, but also boost tourism related employment, Jimenez added.

DOT projects to hit 6.5 million mark in tourism employment by 2022. At present, there are 5.3 million Filipinos employed in tourism related businesses.