THE government has launched a P4.7-billion value chain-based and market-driven business development initiative which aims to provide business and technology support for micro, small and medium enterprises (MSMEs) and farmers.
Trade and Industry Secretary Ramon Lopez in a statement said the Rural Agro-enterprise Partnership for Inclusive Development and Growth (Rapid Growth) project will support 1,000 MSMEs to level-up their business models, provide better packaging of products, and become more innovative of agriculture products.
In the Cordillera Region, around 400 MSMEs have benefitted from the business upgrading program of the Department of Science and Technology (DOST) or the Small Enterprise Technology Upgrading Program (Setup).
Nancy Bantog, DOST regional director, earlier said the number of setup enterprises in the Cordillera increases by around eight enterprises per province yearly, which aims to improve an enterprise’s existing products, services, operations, and enhance productivity and competitiveness.
The assistance is to help boost their productivity and competitiveness through Science and Technology Innovation (STI).
Fifty percent of the firms in the Cordillera which availed of the Setup program are in the food industry, followed by metals and engineering firms.
Some P39 million have been allotted by the DOST for the implementation of the program which includes capability training and loan for those wanting to upgrade or purchase technologies.
The trade chief said the government is working toward the “agri-industry integration” to ensure that local farmers have better income, better productivity, better yield in their production, and better output that will support the requirements of the MSME sector.
He stated that because these are guys that will be able to export or supply to the domestic market in a big way to create a bigger requirement, a bigger demand for agriculture produce is being noted, through the RAPID project considered as a market-driven measure.
“Everything that is produced in the value chain, what will be planted, coffee, cacao, coconut, fruit nuts, will have the demand, will have the market that will be processed by the MSMEs,” he said.
RAPID project involves increasing rural income and solving poverty, which are the key objectives of President Rodrigo Duterte.