DTI’s five-point MSME agenda to integrate 3T’s for conducive economic advancement | Department of Trade and Industry Philippines

In photo: DTI Acting Secretary Cris Roque and Department of the Interior and Local Government Secretary Benhur Abalos, together with officials from the Philippine Chamber of Commerce and Industry (PCCI) led by President Consul Enunina Mangio and Chairman George Barcelon, at the Metro Manila Business Conference 2024

Manila City, Philippines — On August 22, Department of Trade and Industry (DTI) Acting Secretary Ma. Cristina Roque outlined the five-point agenda for empowering the Filipino micro, small, and medium enterprises (MSMEs) at the 2024 Metro Manila Business Conference (MMBC).

The trade chief expressed that this agenda aligns with the annual event’s theme, “Integrating Trade, Technology & Tourism (3T’s) for Sustainable Economic Transformation,” which focuses on local integration and global outlook.

As the leading government agency supporting MSMEs, the DTI is at the forefront of advancing digital transformation and artificial intelligence (AI) adoption among MSMEs.

By adopting e-commerce, online payment systems, and digital marketing strategies, MSMEs can extend cross-border trade opportunities and support customer engagement. This can lead to substantial efficiency gains, enhanced decision-making, and the development of innovative products and services.

MSMEs are also encouraged to diversify their operations by exploring new domestic and international markets. This strategic program, supported by opportunities in trade and tourism, will facilitate MSMEs to expand their customer base, increase revenue streams, and reduce market risks.

Recognizing that adequate funding is necessary for startups to thrive, the DTI partnered with Small Business Corporation, Banco De Oro, Union Bank of the Philippines, and Bank of the Philippine Islands to provide MSMEs with tailored financing solutions, like purchase order financing, check rediscounting, receivables financing, and franchising funding.

Moreover, the DTI promotes franchising as a core approach to accelerate business development and build long-term success through capitalizing on established brands, proven business systems, and economies of scale. This initiative aims to attract overseas Filipino workers to consider franchising as a viable investment prospect.

Lastly, the DTI collaborates with Go Negosyo and other government agencies to create a mentorship network, connecting experienced entrepreneurs with aspiring MSMEs. This effort aims to provide valuable insights, practical guidance, and the tools needed to overcome business challenges.

DTI Acting Secretary Ma. Cristina Roque during her keynote address at the 2024 Metro Manila Business Conference

“Having been an MSME before, I understand the challenges you face. When opportunities like this arise, seize it with confidence. You never know, you could be the next big story,” Secretary Roque said.

In the event, the trade secretary also announced plans to establish stores in all Philippine embassies worldwide. These outlets will serve as platforms to market Filipino products to international audiences, thereby stimulating the manufacturing sector and contributing to job creation.

The 2024 MBCC is organized by the Philippine Chamber of Commerce and Industry-National Capital Region (PCCI-NCR), aimed to provide valuable learning and networking opportunities to Filipino businesspeople across the country. The event gathered business leaders, government officials, and industry experts—highlighting the importance of collaboration for sustainable socio-economic growth. ♦

Date of release: 04 September 2024

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