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Manila Bulletin devider Business devider Trade & Industry devider DTI integrates 3T's into five-point MSME agenda for growth

DTI integrates 3T's into five-point MSME agenda for growth

Published Sep 4, 2024 07:06 am

Department of Trade and Industry (DTI) Acting Secretary Ma. Christina Roque the integration of Trade, Technology & Tourism (3T’s) into her five-point micro, small, and medium enterprises (MSME) plan.

At the 2024 Metro Manila Business Conference (MMBC), Roque presented her five-point plan, which focuses on using artificial intelligence (AI) and digital tools, expanding business operations, securing funding for the sector, promoting franchising, and providing mentorship and training.

DTI claimed it is leading efforts to drive digital transformation and AI adoption among MSMEs. This involves promoting e-commerce, online payment systems, and digital marketing to enhance cross-border trade and customer engagement.

Thus, MSMEs are urged to diversify into new markets to expand customers, boost revenue, and reduce risks through trade and tourism opportunities.

“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 during the conference.

DTI teamed up with several banks to provide customized financing options for MSMEs, such as loans for purchases, checks, receivables, and franchising.

Further, DTI encourages franchising as a key way to grow businesses. This strategy targets overseas Filipino workers, showing them that investing in well-known brands with proven systems can be a good opportunity.

Currently, DTI is working with Go Negosyo and other agencies to set up a mentorship network that links experienced entrepreneurs with new MSMEs for guidance and support.

Secretary Roque also announced the plans to open stores in Philippine embassies worldwide to sell Filipino products, boost manufacturing, and create jobs.

The 2024 MMBC is an annual event organized by the Philippine Chamber of Commerce and Industry-National Capital Region (PCCI-NCR), offering learning and networking for Filipino businesspeople. It gathered business leaders, government officials, and industry experts to emphasize the role of collaboration in sustainable socio-economic growth. (Derco Rosal)

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