DTI sets criteria for manufacturing aid

The Department of Trade and Industry (DTI) said that manufacturing projects with high global value chain potential, provides social benefits, innovative, and are emerging candidates for the proposed ₱30-billion manufacturing support to be implemented over a three-year period.

DTI Secretary Ramon M. Lopez announced this as the agency unveiled the Securing Manufacturing Revitalization & Transformation (SMART) Program to business leaders and manufacturers at the recent Manufacturing Summit 2019.

The DTI has already set the criteria for projects that will benefit from the SMART program. These criteria include: (a) Global Value Chain upgrading; (b) Social Benefits and externalities (EV: E-PUV, E-jeepneys, E-trikes, E-buses); (c) Adoption of Industry 4.0 technologies to catalyze manufacturing growth & the economy; (d) Innovation, R&D, commercialization of market-oriented research; (e) Emerging industries, clusters & activities that would address gaps in supply/value chains; and, (f) Industrial development in rural areas.

“The SMART program will support the adoption of Industry 4.0 technologies, upgrading processes, upgrading products, upgrading services, and development of new business models,” said Lopez.

For this, he said, the DTI proposed to spend ₱25 billion-₱30 billion to support small, medium, and even large companies for a period of 3 years,” he furthered.

The program will support the industry through soft loans, grant vouchers, incentives (through the SIPP), standards, safeguard measures, fund support (similar to the CARS program), and reduction in trade