Gov’t allots P700-M share to help SMEs in DavNor

The government has allotted P700 million worth of shared services facilities to help the small and medium enterprises (SMEs) cut down their production costs
Department of Trade and Industry (DTI) city director Teolulo Pasawa said of the total amount, the lion’s share of the facilities was given to SMEs in Davao del Norte.
“The province has registered the most number of shared services facilities in the region with a total of eight machines,” Pasawa said.
He said the shared service facilities are machines commonly needed by the SMEs in their businesses like cold storage facilities, decorticating machines, food processors and dryers, among others.
“This is actually one of the strategies being implemented by the DTI to encourage growth in the countryside,” he said.
“The goal is for the benefits to trickle down to the lowest levels of the population,” he added.
The machines are very expensive when bought individually, they can cost from P500,000 and to P5 million.
He said the shared facilities will be available for the unrestricted use of the SMEs, free of charge. The SMEs will be able to use the shared services facilities on a scheduled-use basis.
“The SMEs are potent job generators in the countryside; so if the government wants to encourage economic activities in the area, the best strategy is to empower the SMEs,” he said. [PNA]