NextGen Day

🚀📈 Department of Trade and Industry (DTI) Secretary Alfredo Pascual has unveiled major initiatives to accelerate the growth of micro, small, and medium enterprises (MSMEs), particularly through digitalization.

During the National MSME Summit 2023 held in Manila on Tuesday, Pascual, who also chairs the MSME Development Council, led the launch of three important initiatives:

1. 2024 Presidential Awards for Outstanding MSMEs: This awards program aims to recognize and celebrate outstanding MSMEs significantly contributing to the Philippine economy. It will provide incentives and support to encourage continued excellence and growth among MSMEs.
2. Philippine E-Commerce Platform (PEP): Integrated within the eGov PH super app of the Department of Information and Communications Technology, the PEP is an online store dedicated to promoting and selling Philippine-made products. DTI hopes that hundreds of MSMEs will utilize this platform to reach a wider audience and expand their market presence.
3. Digitalization of One Town, One Product (OTOP) Philippines: The DTI has partnered with the online app SOMAGO to enable consumers to purchase OTOP Philippines products online. This digitalization initiative will provide opportunities for MSMEs under the OTOP Philippines program to expand their market reach and grow their businesses through digital platforms.

Secretary Pascual emphasized the vital role of MSMEs in the Philippine economy, describing them as the “bedrock” that keeps the economy vibrant, diverse, and inclusive. With the Marcos administration’s push for digitalization, he urged local MSMEs not to miss the opportunity to harness the power of digital platforms and expand their markets.

The digitalization initiatives introduced at the National MSME Summit are expected to provide significant support and growth opportunities for MSMEs, helping them thrive in the increasingly digital landscape and contribute to the country’s economic development.

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