Bong Go files bill boosting MSMEs

August 12, 2022 0 Comments

Sen. Bong Go has filed in the 19th Congress a bill institutionalizing the Department of Trade and Industry’s “One Town, One Product” (OTOP) program, saying that it will help boost recovery and promote innovation among micro, small, and medium enterprises (MSMEs).,OTOP is a government-run program that promotes food and other products of Filipino towns, cities and regions.,In the explanatory note of the bill, Go noted that 99.51 percent of businesses operating in the country are MSMEs, according to the 2020 List of Establishments of the Philippine Statistics Authority.,“These figures emphasize and solidify the important role of MSMEs in the country’s economy,” said Go.,He stressed it is therefore the duty of government to “provide protection and recognize the profound and undeniable contributions of MSMEs in nation-building and economic growth.,Go’s Senate Bill adopts the OTOP as a government stimulus program to encourage the growth of MSMEs in the country through the utilization of indigenous raw materials and promoting local traditions and culture across the country.,Furthermore, the bill seeks to support MSMEs in coping with the adverse effects brought by the ongoing pandemic.,“Backbone ng ating ekonomiya ang mga MSMEs. Masisipag at madiskarte sa buhay ang mga Pilipino. Kung mabibigyan lang sila ng tamang suporta, hindi malayo na mas lalago pa ang mga negosyo nila,” said Go.,“Tulungan natin ang mga MSMEs na buhayin ang kanilang mga negosyo dahil sila rin ang bubuhay sa ating ekonomiya, lalung-lalo na ngayon na nasa gitna tayo ng krisis dulot ng Covid-19,” he ended.