February 10, 2020- Department of Science and Technology Secretary Fortunato T. de la Pena mentors start up and early entrepreneurs with his mentee Alexa Alcazar at the recent Go Negosyo 15 at Glorieta in Makati seen through seen through DZMJ Online Season 24 Episode 6
SB Corporation, Cebu People’s Cooperative
The Small Business Corporation (SB Corporation) expressed continued support to the Cebu People’s Multi-Purpose Cooperative (CPMPC) as its Credit Delivery Partner (CDP) for the Pondo sa Pagbabago at Pag-asenso (P3) Program. CPMPC reported a total P2.56 million loans released to 124 microenterprise beneficiaries in just three months (November 2019 to January 2020). SB Corporation through CPMPC aims to generate P2 million P3 loan portfolio per month for each of the cooperative’s 16 satellite offices.
Present during the update meeting are (seated L-R) SB Corporation South Luzon Group Head Ronald Inciong, Financing Sector Head Ma. Lourdes Baula, SB Corporation President and CEO Ma. Luna Cacanando, CPMPC CEO Macario Quevedo, CPMPC COO Brian Yap, SB Corporation MIS Department Manager Marc Quincy Talagtag and SB Corporation Corporate Support Sector Head Rowena Betia (Standing L-R) SB Corporation Information Technology Group Head Evelyn Felias, CPMPC Financial Officer Eric Abistado, Training Dept Manager Jacob Layan, Credit Dept Manager Melanie Baclayon, Manila Branch Operator Ulysses Mar Josef, and Executive Secretary Nelson Rabaja.
Under the P3 Program, a micro enterprise can borrow between P5,000 up to P200,000 depending on its business need and repayment capacity with no collateral requirement with an effective interest rate of not more than 2.5% per month (based on diminishing balance). The P3 Program serves as an alternative to the P30 billion “5-6” money lending industry that charges 20% interest rate to microenterprises.
As of January 2020 the P3 program has extended a total of P5.1 billion in loans to 124,374 microenterprises and has partnered with 418 partner financial institutions nationwide. END
PH EXPORTS REACH RECORD-LEVEL US$70B IN 2019
DESPITE GLOBAL UNCERTAINTIES – DTI CHIEF
Exports grow by 21% in December 2019
MAKATI – Department of Trade and Industry (DTI) Secretary Ramon Lopez said that Philippine exports reached a record-high of US$70.3 billion in 2019 from US$69.3 last year despite external headwinds from the global trade policy uncertainties, geopolitical tensions, and country-specific challenges.
“The relatively strong export performance of the Philippines transpired amid DTI’s strong efforts in attracting investments, spurring MSME development, and promoting the ease of doing business,” said Sec. Lopez.
Growing at 1.5% year-to-date (ytd), the country’s export growth is also the second-best performer among East Asian economies, next to Vietnam. The Philippines, China, and Vietnam were the only three countries that reported positive export performance among 11 trade-oriented Asian economies last year.
“Our goal was to expand the productive capacity and export base as well as in actively enhancing trade relations with existing partner economies, by marketing products abroad and exploring new export markets,” the trade chief said.
For the first time, electronics exports hit US$ 40 billion with a 4.4% growth ytd. The sector comprised of 56.9% of total exports, with non-electronic products making up the remaining 43.1% at US$30.3 billion. For non-electronic products, top growers are: mineral products; fruits and vegetables; and travel goods and handbags.
The top four destinations for Philippine merchandise items last year were the US, Japan, China, and Hong Kong. Secretary Lopez said that curbing inflation via aggressive price monitoring activities has also contributed in making locally-made products attractive internationally.
In December 2019, the Philippines was also the top performer with a 21.4% year-on-year (yoy) growth, the fastest pace in 2019. This was largely on the back of a 24.9% yoy jump in electronic exports, which accounted for 60% of merchandise exports in December. Other top export items for the month that also recorded growth include bananas, chemicals, copper metal, machinery and transport equipment, among others.
Meanwhile, Philippines’ merchandise imports decreased 4.8% to US$107.4 billion in 2019. As the full-year’s export growth was positive and import growth negative, the country’s merchandise trade deficit narrowed 14.9% to US$37.0 billion.
According to Secretary Lopez, this bodes well for the country’s external position since a smaller trade deficit would lead also to a narrowing of PH’s current account deficit. END
DTI secures more supply of N-88 masks
The Department of Trade and Industry (DTI) was able to get the partial supply of N-88 masks from MedTecs, the lone local manufacturer from Bataan. With the assistance of the Philippine International Trading Corporation (PITC), DTI procured 125,000 pieces of N-88 masks. Of these, 70,000 pieces were delivered and immediately donated to the Department of Health and DTI regional offices and attached agencies.
According to DTI Secretary Ramon Lopez, the next batch of deliveries will make available 80,000 pieces which will be donated to the Philippine Red Cross (PRC), in coordination with PRC Chairman and Senator Richard Gordon. The PRC, in turn, shall distribute the masks to more than 100 Red Cross offices nationwide.
To further augment the supply, Medtecs committed to double their production, enabling them to provide 400,000 pieces of masks weekly. Among these, 200,000 pieces will go to the Department of Health (DOH) and 100,000 to Red Cross and other government agencies. Meanwhile, 100,000 pieces will be allocated to private retailers Mercury Drug and Southstar Drug for distribution nationwide.
With weekly supply to leading drug stores in the country, consumers can be assured access to N-88 masks. Mercury Drug has over 1,000 branches nationwide and Southstar Drug has 500 branches. END