MANILA, Philippines — The Department of Trade and Industry (DTI) and the International Labor Organization (ILO) have signed a memorandum of understanding (MOU) for a Japan-supported project aimed at supporting the recovery of micro, small and medium enterprises (MSMEs).
In a statement, the Embassy of Japan in the Philippines said the MOU signing on Aug. 26 was attended by Japan Embassy Minister Masahiro Nakata.
It added that the MOU is part of the $2.2-million “Bringing Back Jobs Safely under the COVID-19 Crisis in the Philippines: Rebooting Small and Informal Businesses Safely and Digitally,” between Japan and the ILO.
The project, which seeks to support MSMEs’ recovery from the impacts of the COVID-19 crisis, was launched in July 2021.
“Components of this support measure include capacity-building on occupational safety, health and productivity measures, digital entrepreneurship and financial education for MSMEs and informal businesses,” the embassy said.
It added that the initiative will assist the Philippine government in its push to integrate MSMEs through digitalization.
Nakata emphasized that the project is a crucial contributor to achieving a robust and sustainable economic recovery for the Philippines from the COVID-19 global crisis.
“With MSMEs comprising the majority of the businesses in the Philippines, the success of their operations will significantly help the restoration of the local labor market,” he said.
Members of ILO Philippines, DTI and other involved government agencies joined the ceremonial signing.
ILO Philippines director Khalid Hassan, DTI Regional Operations Group Undersecretary Blesila Lantayona and Technical Education and Skills Development Authority director general Danilo Cruz were present as signatories
In addition, DTI Assistant Secretary Mary Jean Pacheco of the DTI Digital Philippines and Ecommerce Lead and executive director Nelly Nita Dillera of the Philippine Trade Training Center were also among the signatories.
President Marcos recently emphasized the importance of MSMEs to the country’s economy.
“Our MSMEs form the backbone of our economy,” Marcos said at the recent Go Negosyo MSME Summit.
He commended efforts by the private sector to help Philippine MSMEs and reiterated the government’s commitment to work hand in hand with the country’s MSMEs.
“I know that this will succeed because it comes from the right place in his heart. it comes from the right place in all the big brothers’ hearts. It comes from a place that wants to make the Philippines a better place,” Marcos said.
“You have my utmost assurance and commitment that the government is here to help you level up and succeed especially during these difficult times,” he added.