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DTI programs support female entrepreneurs’ business expansion

Alfredo Pascual, secretary of the Department of Trade and Industry (DTI), stated that the organization seeks to level the playing field for female entrepreneurs through its activities in honor of International Women’s Day.

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In a statement released on Wednesday, Pascual noted that 313,608 of the country’s registered firms are run by women.

According to data provided by the Philippine Statistical Authority, the amount represents close to 30% of the total 1.08 million registered establishments (PSA).

“With its financial arm, the Small Business Corporation, the DTI offers alternate and accessible forms of financing to support women entrepreneurs (SBCorp). Through its Pondo sa Pagbabago at Pag-asenso (P3) program and Bayanihan CARES, an interest-free and collateral-free financing program aimed at assisting MSMEs (micro, small, and medium enterprises), SBCorp has already released loans totaling about PHP1 billion in support of businesses owned or operated by women.

He also mentioned initiatives aimed at enhancing women’s business owners’ capacities.

These DTI initiatives include of the She Trades Philippines, Rural Agro-industrial Partnership for Inclusive Development (RAPID) Growth Initiative, and Investing in Women Asia.

Pascual emphasized the critical contribution that women make to the agency’s strategic aims and initiatives.

“In keeping with the socioeconomic policy of the administration, we at DTI have outlined the scope of our mandate and organized our initiatives around primary objectives. We want to advance the industrialization of the nation fueled by STI, upgrade, upskill, and expand micro, small, and medium-sized businesses, and usher in their digital transformation to help them access new markets. Also, we want to develop innovative, globally competitive sectors and an atmosphere that is conducive to corporate growth,” he added.

According to Pascual, the DTI still backs initiatives aimed at boosting the economic participation of underrepresented groups and women entrepreneurs.

“We at DTI believe that by empowering women, we also empower our country. We think that achieving gender equality is crucial to realizing our development objectives and creating a flourishing Philippines with opportunities for everyone. With this, I urge all Filipinos to join us in celebrating Filipino women and their priceless contributions to the nation’s economic growth,” he continued.

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