ASEAN KEY DESTINATIONS
The Philippine Department of Trade and Industry (DTI) wants to create more jobs in the countryside
In a statement, the DTI said the Generating Resources of Agencies for Community Enterprise or Grace Project aims to bring various forms of assistance including skills training, technology transfer, financial assistance, product development, marketing, consultancy to MSMEs.
The local government units of Marinduque, Occidental and Oriental Mindoro, Palawan and Romblom would implement the project through the help of the DTI, the Departments of Agriculture, of Labor and Employment, of Science and Technology, and the Technical Education and Skills Development Authority.
“Having the concerned agencies and the LGUs unified, the collaboration will serve as an innovation in facilitating trade and generating businesses particularly in the countryside,” DTI Secretary Gregory Domingo said.
“The action plans if successfully implemented will generate 90,000 jobs in the region, bring in P43.6 million in investments and nearly 10,000 SMEs,” said DTI Undersecretary Merly Cruz.
Under the MSME Development Plan for 2011 to 2016, the government plans to raise the economic contribution of the sector to 40 percent of gross value added from the current 37.5 percent.
The increase would make the Philippines at par with neighboring countries.
In Indonesia, the share of MSMEs stands at 53.28 percent; Vietnam, 39 percent; Thailand, 37.8 percent; and Malaysia, 32 percent.
The Aquino administration plans to generate 340,000 jobs in the MSME sector this year, and raise this to two million by 2016.
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