OTOP IMPLEMENTATION. Romeo N. Vasquez, Jr., Trade and Industry Development Specialist of Department of Trade and Industry Region 11 said 40 Micro, Small and Medium Enterprises in the region have already qualified in recent assessment and will benefit from the reopening of One Town, One Product program, an intervention that will help MSMEs enhance the quality, marketability, and competitiveness of their products and services. (Alex D. Lopez/davaotoday.com)
DAVAO CITY – The Department of Trade and Industry in Region 11 is again opening the One Town One Product Next Gen with 56 Micro, Small and Medium Enterprises undergoing assessment and screening for qualification as Go Lokal markets and stores in the area.
Romeo N. Vasquez Jr., Trade and Industry Development Specialist at the SME Development Division of DTI-11 told reporters at the regular Habi at Kape Press Conference in Abreeza Mall on Wednesday that out of 56 MSMEs, 40 have already qualified after the screening and are now being processed to become full Go Lokal markets and stores in the region.
OTOP, Vasquez said, envisions MSMEs to become inclusive and prosperous that could generate more employment and opportunities to all sectors in the area.
The program’s strategic goal is to transform MSMEs to become innovative and competitive with strong brands that will contribute to the economic growth in the area as well as in the whole country.
The 40 MSMEs were recently assessed by DTI as most modern and mainstream markets that offer quality products, reasonable prices, and consistent supply.
The qualified MSMEs will benefit from OTOP program that will further enhance the quality, marketability, and competitiveness of their goods and services.
Through the program, the MSMEs will be provided with physical and virtual market channels to sell their goods and services.
Vasquez said that DTI has allocated around P7.9 million funds for OTOP and P1.7 million of the total funding is apportioned for Davao City.
“The bulk of MSMEs is in Davao City. This is the reason why DTI has set aside P1.7 million for OTOP implementation for the city,” Vasquez pointed out.
Provinces in the region will also have an allocation of P800 thousand for OTOP program this year, he added.
DTI considers OTOP as priority stimulus program for MSMEs as government’s customized intervention to drive inclusive local economic growth. (davaotoday.com)
Business, Economy, MSMEs
