Buy Local Products, Restimulate Economy

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While the government is assisting business industries resume operations, the Department of Trade and Industry (DTI) is seeking support of the public to buy products from local manufacturers.

DTI Secretary Ramon Lopez on Friday said that patronizing local products is one way for consumers to help create more jobs and restimulate the economy.


DTI Secretary Ramon Lopez on Friday said that patronizing local products is one way for consumers to help create more jobs and restimulate the economy.

“Everytime they buy from local manufacturers, we create local jobs. It is really the way to restimulate our economy and create jobs,” he said in a virtual briefing with Presidential Communications Operations Office (PCOO) Secretary Martin Andanar.

“Kung wala po silang kasiguruhan sa kanilang income, lahat po ay mag-iipon at iko-conserve ang kanilang mga cash. Kaya magiging mabagal po ang usad ng ating ekonomiya kung mawawala po yung confidence na yun [If they have no steady income, they will just save and conserve their cash. When that happens, our economy will slow down],” he added.

Vice President Leni Robredo, in her comments about the COVID-19 response efforts of the government, outlined that it should focus on providing assistance to local producers as well.

Secretary Lopez responded that initiatives have already been in place dedicated to micro, small, and medium enterprises (MSMEs), including local producers and manufacturers.

“Pagdating po sa local producers, all out support po tayo [Local producers will receive all-out support from the government],” he said as he discussed available credit programs being implemented by the agency to help local entrepreneurs revive their businesses.

He mentioned that the funding initiative like the Covid-19 Assistance to Restart Enterprises (CARES) program also has affiliated capacity-building programs that underscore product innovation and development.

“Mayroon tayong Design Center Philippines that helps them in the design, even marketing the product we are teaching them online, teaching them digital technology so that maipasok nila sa e-commerce and online selling ang kanilang mga business,” he said.

He also mentioned partnership with the Department of Science and Technology in providing equipment to its beneficiaries to help them mechanize and have more consistent productivity and quality of products.

According to Secretary Lopez, its CARES program has already provided a total of P650 million to some 9,000 MSMEs, and they are expecting that they will be able to help around 15,000 businesses with its P1 billion budget.

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