Manila-based Asialink Finance Corporation (AFC) has secured a ₱120-million credit line from Taiwan-based Mega International Commercial Bank Co., Ltd. (Mega ICBC), a partnership aimed at expanding financing to the country’s micro, small, and medium enterprises (MSMEs). “With this additional...
The Philippines and South Korea signed an agreement to accelerate cooperation in trade and energy in pursuit of driving industrial transformation, according to the Department of Trade and Industry (DTI). In a statement on Thursday, May 15, DTI Secretary Cristina Roque said she signed a memorandum...
The International Finance Corporation (IFC) has invested $7 million in fintech firm First Circle to expand digital financial services for small and medium-sized enterprises (SMEs) in the Philippines. The IFC board approved the project on June 13, signed on June 28, and invested the...
SM Supermalls and the Department of Trade and Industry (DTI) have joined forces to create a beacon of hope for Micro-, Small, and Medium Enterprises (MSMEs) affected by Typhoon Carina. The DTI-SM MSME Calamity Recovery Care Center offers a comprehensive suite of services designed to help businesses...
Small and medium enterprises (SMEs) represent an important part of the Philippine economy. However, official records lump SMEs and bundle it with micro enterprises. The Philippine SME law is known as the Magna Carta for Micro, Small and Medium Enterprises. While this considers the numbers in the...
The Department of Trade and Industry (DTI) and P.J. Lhuillier Inc. (PJLI) have signed a memorandum of understanding (MOU) allowing micro, small and medium enterprises (MSMEs) to transact through a web portal at Cebuana Lhuillier outlets to further promote ease of doing business and digitalization...
State-owned Philippine Guarantee Corp. (PHILGUARANTEE) posted record financing assistance to micro, small and medium enterprises (MSMEs) during the prolonged pandemic. Based on a report to the Department of Finance released on Monday, April 4, PHILGUARANTEE said its credit guarantee facilities to...
As 90 percent of employment comes from micro, small and medium enterprises (MSMEs), vice-presidential aspirant Senator Francis "Kiko" Pangilinan said he will push for a P100-billion stimulus fund for the country's millions of small entrepreneurs. Senator Francis 'Kiko' Pangilinan (Photo courtesy of...
Senatorial aspirant and Sorsogon Governor Francis “Chiz” Escudero on Monday urged banks to ensure that 10 percent of their loan portfolio goes to micro, small and medium enterprises (MSMEs) financing. Escudero, who used to head the Senate committees on finance, and banks and financial...
The Department of Finance (DOF) said the newly formed committee tasked to streamline trade processes and modernize major customs operations will be beneficial to micro, small and medium enterprises (MSMEs). Finance Secretary Carlos G. Dominguez III said the Philippine Trade Facilitation Committee...
The National Economic and Development Authority (NEDA) is encouraging consumers and the working population to respond to a new survey on confidence in the safe and gradual opening of the economy. In a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said the key to a real...
