DTI DdO recognizes MSMEs as the backbone of Economic recovery

Amidst the COVID-19 pandemic, the Department of Trade and Industry (DTI), in partnership with the Provincial Government of Davao de Oro through the PAO-Investment Division, continues its efforts to support and empower the Micro, Small, and Medium Enterprises (MSMEs) by conducting business trade fairs, pitching, product expos, one-town one-product live selling, financing forums, and the like, as they are the backbone of the gradual economic recovery not only in the province but also in the entire country.

August 8–12, 2022 marks the 2022 MSME Week + Youth Entrepreneurship Program (YEP) Celebration in Davao de Oro with the theme “RISE MSMEs in the Digital Economy: Resilient, Innovative, Sustainable, and Empowered,” which underpins MSMEs’ resilience to continue their entrepreneurial journey, be innovative enough to cope with the drastic changes brought by the pandemic to sustain their small businesses and become empowered and successful entrepreneurs in the hardest of times.

During the week-long event, the local products of MSMEs, including innovative foods, textiles, arts and crafts, health, beauty, and wellness products of the province, were exhibited through a business trade fair at the Capitol Lobby as an act of support by the government, which allows them to promote their various products and later increase the reach of potential customers for their businesses.

In addition, a business pitching competition for the young entrepreneurs and students from DDOSC Compostela, DDOSC Montevista, DDOSC New Bataan, DDOSC Maragusan, Monkayo College of Arts, Sciences and Technology, and Assumption College of Nabunturan was also conducted at the Activity Hall, Executive Building, where they showcased their unique and innovative products. Moreover, a one-town one-product live selling on social media platforms such as Facebook was also conducted to further promote their products.

Meanwhile, DTI DdO Provincial Director Atty. Lucky Siegfred M. Balleque presented some facts and figures that show the significant contribution of MSMEs to the growth and development of the economy. He said that it has always been the DTI’s priority to assist the MSMEs to visualize and expand their businesses through programs, events, and activities to make the most of their ventures and would help them become large enterprises in the future.

“According to the 2020 MSME Statistics conducted by the Philippine Statistics Authority (PSA), a total of 957,620 business enterprises are operating in the country. About 99.51% or 952,969 accounts for the MSMEs while the remaining 0.49% or 4,651 accounts for the large enterprises. These MSMEs created a total of 5,380,815 jobs, accounting for 62.66% of total employment in the country.” said Balleque.

He also added that “recently the PSMED Council passed a resolution requesting Sangguniang Panlalawigan to enact an ordinance which would entitle eligible MSMEs to 10% of total procurement of goods and services supplied to the government. We will also request our LGUs to allocate the said budget for MSME development.”

Furthermore, Governor Dorothy Gonzaga underpinned her support for the said events and reiterated that if we support more of our MSMEs, we could guarantee a positive change in our economy.

“Sa atong mga leaders diri sa Davao de Oro, we are more than willing to give our all-out support para sa mga programa para kaninyu. After all , kamo ang mu-shape ug muhatag ug hitsura sa unsay hulagway diri sa Davao de Oro. Maningkamot mi ug unsa pa matabang nga mahatag na suporta sa kapitolyo sa inyu,” Gov. Gonzaga said. (Jaynus Fernandez-Information Office, Photos by A. Dayao & DTI DdO)