by admin | Jan 11, 2017 | DTI Updates, Headlines, Malakanyang Updates, National News
Following President Rodrigo Duterte’s directive to replace the “5-6” money lending system and provide an affordable micro-financing for the country’s micro, small and medium enterprises (MSMEs), the government’s Pondo sa Pagbabago at Pag-asenso (P3) program pilots this month in Mindoro, Sarangani and Leyte, among the top 30 poorest provinces, to represent Luzon, Visayas and Mindanao, the country’s trade chief said.
“The P3 is designed to bring down the interest rate at which micro-finance is made available to micro enterprises,” said Department of Trade and Industry (DTI) Secretary Ramon Lopez.
The 2017 General Appropriations Act has included an initial funding of P1 billion for financial assistance, a part of the planned P19 billion financing initiative for micro and small businesses in the next five years.
Helping the poorest
The program’s fund will be lent out in the business centers of the poorest provinces (based on poverty incidence), where the participating microfinance institutions (MFIs) and the Small Business Corporation (SB Corp.) can operate.
An attached agency of DTI, SB Corp. shall administer the P3 Program, including the creation of a Program Management Office (PMO), which will open a separate back account for the P3 Program, to oversee the management and monitoring of fund.
“Fund delivery to microenterprises shall be carried out in either by wholesale lending to non-bank financial institutions like MFI-NGOs, and cooperatives which shall on-lend the fund to beneficiaries or by direct lending by SB Corp,” Sec. Lopez said.
Beneficiaries
Priority beneficiaries include microenterprises and entrepreneurs that do not have easy access to credit, or are accessing credit at very high cost, such as, micro-entrepreneurs, market vendors, agri-businessmen and members of cooperatives, industry associations and co-operators.
Loanable amount per end-borrower can range from P5,000.00 for start-ups to P300,000.00, with maximum interest rate of 26% per annum with no collateral requirement. This rate is significantly below the 20% per day/ week/ month charged by “5-6” lenders. It is also lower than what is charged by most MFIs.
MFIs may opt for portfolio guarantee cover of up to 15% of their P3 loan portfolio from SB Corp at a guarantee fee of 0.4%. The guarantee feature is seen to help MFIs address the P3 Program’s inherent risk. The guarantee fund will be sourced from the P3 fund.
P3 allocates PhP 100 million for direct lending by SB Corp. Target loan beneficiaries are the small enterprises in priority and emerging industries, start-up businesses and technology innovators.
Minimum loan amount will be Php 300,000.00 with interest rate capped at 10% p.a., with or without collateral cover.
“This alternative funding dedicated for micro and small enterprises is meant to discourage the 5-6 money lending system in our country,” said Sec. Lopez, adding that through the established MFIs, the government will reach even the smallest of entrepreneurs in the country.
For more information on the services of the DTI, log-on to http://www.dti.gov.ph
by admin | Dec 22, 2016 | Business, DTI Updates, Local News / Bohol Balita, Major Events
TAGBILARAN CITY, December 22 (PIA)–Pahamtangan og multa sa Department of Trade and Industry (DTI) ang mga masakpang nagtinda og produktong nilapas sa gitakdang presyo niini o suggested retail price (SRP).
Mokabat taman sa P1,000,000 ang multa sa mga molapas niini.
Matud pa ni DTI Undersecretary Teodoro Pascua, maayo ug igo pa gihapon ang suplay sa mga produktong pang-Noche Buena mao nga walay rason aron pasakaan ang presyo niini.
Apan matud pa ni Pascua, kun may igong hinungdan o rason sa pagbutang og presyo nga nilapas o wala nisunod sa SRP, dili na pahamtangan og multa ang tag-iya. (ecb/PIA7-Bohol)
by admin | Dec 22, 2016 | DTI Updates, Headlines, Local News / Bohol Balita
TAGBILARAN CITY, December 22 (PIA)–Pahamtangan og multa sa Department of Trade and Industry (DTI) ang mga masakpang nagtinda og produktong nilapas sa gitakdang presyo niini o suggested retail price (SRP).
Mokabat taman sa P1,000,000 ang multa sa mga molapas niini.
Matud pa ni DTI Undersecretary Teodoro Pascua, maayo ug igo pa gihapon ang suplay sa mga produktong pang-Noche Buena mao nga walay rason aron pasakaan ang presyo niini.
Apan matud pa ni Pascua, kun may igong hinungdan o rason sa pagbutang og presyo nga nilapas o wala nisunod sa SRP, dili na pahamtangan og multa ang tag-iya. (ecb/PIA7-Bohol)
by admin | Dec 22, 2016 | Business, DTI Updates, Headlines, Health and Medicine, Local News / Bohol Balita, Price Updates
TAGBILARAN CITY, December 22 (PIA)–Sugdan na sa Food and Drug Administration (FDA) sa sunod tuig ang paghugot sa mga manufacturer nga dili gihapon tigbutang og “expiration” o “expiry date” sa mga de lata ug uban pang produkto.
Kini tungod kay kadaghanan pa gihapon sa mga produktong mapalit ilabi na sa mga supermarket mga “best before o consume before” lamang ang nakabutang nga marka imbes nga expiration date.
Tuig 2014 pa gipagawas ang patakaran nga angay “expiration date” ang ibutang nga marka sa mga processed food ug dili “best before” lang.
Bisan wala dayon gipatuman ang bag-ong patakaran, gihatagan sa FDA ang mga manufacturer og panahon aron mosunod sa maong patakaran.
Gitataw sa FDA nga mahimo pa gihapong magbutang og “best before” apan angay adunay kaubang expiration date ang mga produkto. (ecb/PIA7-Bohol)
by admin | Dec 7, 2016 | DTI Updates, National News
The Department of Trade and Industry (DTI) through its Bureau of Domestic Trade Promotion (BDTP) with the support from DTI Regional and Provincial Offices will showcase various products of local micro, small, and medium enterprises (MSMEs) at the Sikat Pinoy National Trade Fair (NTF) on 7 to 11 December at the Megatrade Halls 1-3, SM Megamall, Mandaluyong City.
The five-day National Trade Fair features a wide array of products carefully selected from various regions and provinces of the Philippines. Products that are up for sale include processed food, wearables, home furnishings, furniture, and health and wellness products.
Some notable displays present at the fair are the Yakan handwoven products from Zamboanga City, pure honey from Bukidnon, VCO soap from Compostela Valley and fruit wines from Agusan del Norte.
“The National Trade Fair aims to provide avenues for our local MSMEs to showcase their world-class products to our domestic markets, especially to buyers and consumers in the National Capital Region,” said BDTP Director Rhodora Leaño.
Aside from the buying public, members of various trade associations and retail & wholesale institutional buyers seeking subcontractors & suppliers of intermediate and finished products are expected to attend and visit the said trade fair.
DTI hopes to attract more visitors and buyers for this year’s NTF as the fair coincides with the upcoming Christmas and holiday shopping season.
“We urge our fellow Filipinos to buy locally-produced products and support our local MSMEs as they help in providing jobs in their respective communities,” said DTI Industry Promotion Group Undersecretary Nora K. Terrado.
In the 2014 figures of the Philippine Statistics Agency, there are about 946,988 established MSMEs which account for 99.6% of the total businesses in the country that employ 63% of the total labor force. With this number, DTI sees the potential of MSMEs in driving economic growth and aside from serving as the primary provider of jobs for most Filipinos in the regions.
Sikat Pinoy National Trade Fair is conducted annually by the DTI-BDTP as a means of promoting Philippine products at the domestic level. It also recently held the Sikat Pinoy National Arts and Crafts Fair which promoted the indigenous products of the Philippines and world-class talents of Filipino artisans.
by admin | Dec 7, 2016 | DTI Updates, National News
Pasay City – The Department of Trade and Industry (DTI) through its Export Marketing Bureau, Export Development Council (EDC) and Philippine Export Confederation Inc. (PHILEXPORT), celebrate 2016 National Exporters Congress with a theme dubbed as “Advancing SMEs through Inclusive Business: From Local to Global” at the Philippine Trade Training Center, Pasay City.
This year’s congress highlights the role of inclusive business model in providing access to domestic MSMEs to the global value chains (GVCs). DTI noted that with its thrust of providing more jobs and making entrepreneurship an effective tool in eradicating poverty across the country, inclusive business helps its agenda by allowing small businesses to be part of the GVCs.
“If more MSMEs are sustainably linked into the value chain of big businesses, we expect more jobs from the sector,” said DTI Industry Promotion Group Undersecretary Nora K. Terrado.
DTI, through its key initiatives and services, implements targeted interventions and support services to the export sector through the strategies laid out in the Philippine Export Development Plan (PEDP) 2015-2017. PEDP was developed through public-private initiative in 2014 and was signed in February 2016 through Memorandum Circular 91. The plan includes discussion of eight key strategies that address bottlenecks of the sector and provides comprehensive approaches in driving growth for Philippine exports.
“Through PEDP, our goal is not only to increase our total export revenues, and make Philippine products known in the global market but also to address constraints in export growth. As we do this, we expect to open more opportunities for employment and increase household income in the coming periods,” added Undersecretary Terrado.
Successful implementation of the strategies laid out in the PEDP 2015-2017 with a sustained target increase of 3% in 2016 and 5% in 2017, is expected to boost employment generation by 225,000 and 600,000 more jobs, respectively.
One of the key private partners of the government in catering to the needs of the export sector is the Philippine Exporters Confederation, Inc. (PHILEXPORT). PHILEXPORT has been pro-active in collaborating with government initiatives. It is present in 20 regions and provinces through its chapters. It assists its exporter members through various services such as policy advocacy, facilitation, information collection and dissemination and export-import documentation and capacity building. “By empowering manufacturers and their suppliers especially in the countryside, PHILEXPORT hopes to promote inclusive business and growth,” emphasized PHILEXPORT President and CEO Mr. Sergio Ortiz-Luis Jr.
Meanwhile, DTI Export Marketing Bureau (DTI-EMB) leads DTI in developing, promoting and expanding exports trade. It takes various initiatives in making government support services accessible to all domestic producers. It offers free information sessions on Philippines’ Free Trade Agreements (FTAs) through its Doing Business in Free Trade Areas (DBFTAs) info sessions and leads the implementation of Philippine Export Competitiveness Program (PECP) that aims to increase productivity and competitiveness of exporters through seminars, outbound business missions, and business matching activities.
According to EMB, the growing number of SMEs operating in the country is seen by the government as a welcome development, a testament to the inclusive growth being experienced by various sectors. The government, the DTI in particular, has been at the forefront of efforts to harness the economic power of the country’s smaller, but numerous business entities.
For the past 17 months, Philippine exports experienced a decline due to the global economic slowdown. It was only in September 2016 when Philippine exports reflected an increase of 5.1% with total export sales from $4.9 billion in 2015 to $5.2 billion this year. Electronic products remained to be the top Philippine export while Japan maintained its spot as the top Philippine export destination.
“As we diversify our markets, and urge our exporters to innovate products and services, we are keen on having positive growth in the coming months,” said DTI EMB Director Senen M. Perlada.
