DTI wants P3 lending program to be a law

The Department of Trade and Industry will push for the institutionalization of the micro-lending program Pondo sa Pagbabago at Pag-Asenso (P3) through the P3 Bill and the One Town, One Product bill to sustain the development of micro, small and medium enterprises.

“There is need to legislate access to market so our MSMEs will not have difficulties to sell to the world market. The OTOP bill will institutionalize the OTOP program to guide LGUs on the comprehensive assistance and holistic approach to support MSMEs,” Trade Secretary Ramon Lopez said at the opening of the 5-day MSME week.

“Meanwhile, the P3 bill will institutionalize the continuity of the P3 program, which would improve MSMEs’ access to credit,” he said.

The DTI established 137 Go Lokal! Stores which assisted 788 MSMEs and generated sales amounting to P381 million. It also inaugurated 62 OTOP hubs nationwide, which helped 50,323 OTOPreneurs and generated sales worth P5.5 billion.