CITY OF MALOLOS, Bulacan — Department of Trade and Industry (DTI) Secretary Ma. Cristina A. Roque is pushing to bring more Tatak Bulakenyo products created by micro, small and medium enterprises (MSMEs) into the world market.
The secretary emphasized this goal during the first leg of the ‘DTI Goes to the Regions’ Caravan, which was held in the City of Malolos, Bulacan. Part of the visit is the inspection to the One Town, One Product (OTOP) Hub located in the Pasalubong Center in the Provincial Capitol compound and dialogue with the Bulacan Chamber of Commerce and Industry (BCCI).
Secretary Roque pointed out this is in line with the top three priorities of the administration of President Ferdinand R. Marcos Jr. for the next three years such as international trade and foreign investments, consumer protections and fair trade and MSMEs digitalization.
DTI wants to hold a regular roadshow to empower Bulakenyo MSMEs to utilize various free trade agreements (FTAs) and to qualify more Tatak Bulakenyo products to enter world trading.
She also said that the Marcos administration is pushing for more FTAs to enter into force. Among the FTAs ratified during the first three years of the administration are the Regional Comprehensive Economic Partnership (RCEP) and the Philippines-South Korea Free Trade Agreement.
RCEP is the largest FTA composed of the members of the Association of South East Asian Nations (ASEAN) and its dialogue partners such as Australia, New Zealand, Japan, South Korea, China and India. Currently, the administration is negotiating new FTAs with the European Union (EU) and the United Arab Emirates (UAE).
On foreign investments, Secretary Roque pointed out that Bulacan is now ready to receive more investments with the enactment of the Republic Act 11999 or the Bulacan Special Economic Zone and Freeport Act besides the ongoing construction of the New Manila International Airport (NMIA) in Bulakan town.
This will also be part of the planned Luzon Economic Corridor where a new railway system alignment is set to be laid down from Subic Bay Freeport, Clark Freeport, Bulacan, Metro Manila, Cavite, Laguna and Batangas.
With these developments, she said, Bulakenyo MSMEs shall take advantage of bulk buyers aside from the usual retail trading. It will become possible by mainstreaming digitalization through learning how to be on-board to the various digital trading platforms.
Perhaps, Secretary Roque encouraged Bulakenyo MSMEs to diversify so that they would not rely on one kind of business. If something happens with the first business, the second or other businesses will make the proprietor survive.
She assures them of access to financing now that SB Corporation, the financing arm under the DTI, has already eased processes by offering online applications and accepting electronic money accounts for smaller loans.
Payment methods are also streamlined. SB Corporation is setting aside P3 billion this year to provide more financial assistance to MSMEs. Around P319 million worth of loans have already been released for Bulakenyo MSMEs since the year 2020.
In this connection, Secretary Roque wants targeted mentoring that focus on digitalization, accounting and mentoring to fine-tune MSMEs operations and its quest to be world-class. — Shane Frias Velasco/PIA-Bulacan
