DTI: 40 SME projects identified for funding

AN OFFICIAL of the Department of Trade and Industry (DTI) in Davao Region identified about 40 projects of small and medium enterprises (SMEs) that are to be funded through the agency's Shared Service Facility (SSF) program.

DTI regional director Marizon Loreto, in an interview during the OSY and Stakeholders Consultation at the Grand Men Seng Hotel Tuesday, said the 40 SSF projects amounted to about P34 million.

Davao Region was allocated a total of P50 million for the SSF from the P700 million national budget set aside for this program.

"The P16 million remaining is awaiting new proposals," she said.

She added this program is not intended to one sector only but it encompasses several sectors focusing on production endeavors.

Of the P34 million, Loreto added DTI-Davao will be funding mostly food processing equipment. For instance, coco coir, banana powder, tomato sauce processing equipment are among the proposals which are yet to be funded by the agency as soon as partnerships will be formalized between the SMEs and department through signing a memorandum of agreement (MOA).

SSF program is done in partnership with private groups who have good project proposals. The proposals then will be evaluated based on its sustainability.

The trade official added most of the proposals for the SSF are from Davao del Sur, Davao City, and Davao Oriental.

Through this program, DTI-Davao is eyeing more improved production capability of the SMEs.

"The objective is to make sure job generation will be improved and enhance common service facilities," she said, adding that SSF is poised as one of the government programs to achieve inclusive growth.

In his presentation, DTI-Compostela Valley provincial director Lawyer Siegfred Balleque added SSF is a common service facilities or production centers for certain processes to give micro, small, and medium enterprises (MSMEs) access to a better technology and more sophisticated equipment to accelerate their bid for competitiveness.