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Funds earmarked for SMEs this year

The Department of Trade and Industry has set aside P34.4 million for 40 small-scale livelihood projects.
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The Department of Trade and Industry has set aside P34.4 million this year for 40 small-scale livelihood projects out of the P50 million fund for its Shared Services Facility (SSF) Program.

 

The latest to get funding support are four projects in Compostela Valley. The DTI-Compostela Valley is launching the projects within the first semester of the year to further improve the productivity and product quality of local micro, small, and medium enterprises (MSMEs) and their capability to compete globally.

 

The Cocolife Cooperative of Pantukan will get two projects on Coco Beads Production Enhancement and Virgin Coconut Oil Production Upgrading which are due for awarding this month. 

 

The two projects amount to almost P350,000 worth of tools and equipment for the production of coco beads and virgin coconut oil (VCO). The said SSF projects with Cocolife are expected to hit a combined sale of P545,000 per month and generate at least 200 jobs in the area.

 

Two more SSF projects are to be implemented in May and July this year. These are the Coco Sugar Production and Jewellery Production Upgrading projects. 

 

The Coco Sugar Production shall be implemented by Nabunturan Integrated Cooperative (NICO) in Barangay Mainit while the Jewellery Production Upgrading, which involves volume production of jewellery using casting machine, shall be implemented in Monkayo by an association of jewelry makers.

 

DTI-ComVal Program Office Team Manager Lawyer Lucky Siegfred M. Balleque said MSMEs in the province could still avail themselves of the SSF project.

 

“Until this time, only about P2 million of the P10 million worth of projects for the province has been committed so far. This means that P8 million worth of projects is still to be proposed from associations, non-government organizations (NGOs) or cooperatives in the province,” Balleque said.

 


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