MAKATI CITY– The Department of Trade and Industry (DTI) and the Benita & Catalino Yap Foundation (BCYF) solidified a strategic partnership through the signing of a Memorandum of Agreement (MOA) on 21 November 2023 at the DTI Board of Investments building. The MOA, signed by Mr. Antonio S. Yap, Chairman of BCYF and DTI Secretary Fred Pascual, marks a collaborative effort aimed at igniting innovation and entrepreneurship within the micro, small, and medium enterprises (MSMEs) sector in the Philippines. 

Secretary Pascual said, “We at the DTI remain committed to empowering our MSMEs through several digitalization and innovation efforts anchored on our science, technology, and innovation (STI) driven approaches. Through a whole-of-government approach, we are actively working with both public and private sector to enhance our MSMEs competitiveness and facilitating their integration in the global market.” 

This MOA underscored the unified commitment of DTI and BCYF to nurturing an environment conducive to the growth and advancement of MSMEs in the Philippines. Further, this partnership between the DTI and BCYF signifies a transformative alliance, highlighting the fundamental significance of innovation and entrepreneurship in uplifting the MSME sector, thereby driving sustained economic growth and comprehensive development for the country. 

Founded by Dr. Antonio S. Yap, the BCYF stands as a pioneering organization dedicated to championing innovative social solutions through Corporate Social Responsibility (CSR). Since its establishment in 1993, BCYF holds a steadfast vision of fostering sustainable development and empowerment within communities across the Philippines and the broader Asian landscape. Central to its mission is the respect for individual dignity and contributions, striving to develop innovative social solutions that uplift societies and drive equitable growth. 

The BCYF’s Project Commerce plays a pivotal initiative aimed at bolstering the technology business incubators (TBIs) across various State Universities and Colleges (SUCs) nationwide. This project serves as a significant support system, fostering technological advancements and entrepreneurial endeavors within these institutions. 

The foundation aims to partner with DTI in executing the BCYF Innovation Awards while providing comprehensive training and consultancy services in innovation and entrepreneurship to DTI business counselors and MSMEs. This collaboration seeks to enhance the MSME landscape by equipping stakeholders with essential skills and fostering a culture of innovation. 

On the side of the DTI, it pledges to amplify BCYF’s initiatives by facilitating presentations and disseminating crucial information through official channels like the DTI website and other social media platforms. Secretary Pascual stressed that the DTI stands ready to engage in collaborative projects with BCYF in Mindanao, aligned with their shared vision of fostering innovation and development within the MSME sector. 

The signing ceremony was attended by esteemed BCYF officials Mr. Antonio Yap, Chairman of BCYF and witnessed by DTI Chief of Staff and Undersecretary Ana Carolina P. Sanchez, Regional Operations Group (ROG) Undersecretary Blesila A. Lantayona, Assistant Secretary Leonila T. Baluyot, and BSMED Director Emma C. Asusano. ♦

Date of release: 21 November 2023

Related posts:

DTI-BARMM MOA aims to promote Halal industry development to foster economic growth in the region DTI chief highlights digital transformation initiatives for Philippine businesses DTI chief highlights digital transformation initiatives for Philippine businesses DTI chief Pascual encourages US companies to invest in the semiconductor industry DTI Secretary Pascual champions manufacturing sector and employment boost DTI Chief Pascual urged Malaysian businesses to invest in the Philippines DTI Secretary Pascual signs OTOP IRR to promote MSMEs development Default ThumbnailDTI, LGUs connect to ease processing of business permits