5-year development plan boosts SMEs
A FIVE-year development plan for small and medium enterprises (SMEs) in Pangasinan was recently approved to help boost the economy and create job opportunities.
The Small and Medium Enterprises Development (SMED) Plan was presented by the Department of Trade and Industry (DTI) to the Pangasinan Enterprises Development and Productivity Foundation, Inc. (PEDPFI) on February 10.
Natalia Dalaten of the DTI Business Development Division said 99.9% of all business establishments in the province are SMEs and generate about 54.62% of investment and 99.37% of employment.
“The end goal of the SMED plan is to help the government reduce poverty and to generate jobs for the people by 2016,” Dalaten said.
The SMED plan focuses on development strategies being undertaken by the provincial government and the DTI.
These strategies include identifying industry sectors that demonstrate strong growth and export potentials in Pangasinan, creating a market for products of identified priority sectors, and the promotion of mutually beneficial linkages among small and large firms by strengthening the “small-and-big-brother” concept.
The SMEs will also be provided technology, research and development support to make them more competitive.
FINANCING
The SMEs access to financing will also be improved through government banks such as the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LBP).
The Pangasinan SMED Council and the industry sector associations will also be strengthened and pursue closer cooperation to have a more synchronized SMED programs in the province.
Resource centers such as the Dagupan Business Center, San Fabian One Town One Product (OTOP) Pasalubong Center, and Bangus Deboning Area will also be strengthened.
Some natural resource-based industries like bamboo, rattan, and cornhusk will be given rehabilitation.
Promotion of SMEs is one of the government’s efforts to address the Millennium Development Goal (MDG) of reducing poverty. (PIA-Pangasinan)
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