Department of Trade and Industry (DTI) Secretary Alfredo Pascual has unveiled major initiatives that will accelerate the growth of micro, small, and medium enterprises (MSMEs), especially through digitalization.

During the National MSME Summit 2023 held in Manila Tuesday, Pascual, who is also the MSME Development Council chair, led the launch of the 2024 Presidential Awards for Outstanding MSMEs, the Philippine E-Commerce Platform (PEP), and the digitalization of the One Town, One Product (OTOP) Philippines.

The PEP, which is integrated in the eGov PH super app of the Department of Information and Communications Technology, is an online store dedicated to Philippine-made products.

On the sidelines of the event, Pascual told reporters that DTI hopes that hundreds of MSMEs will utilize the PEP.

Consumers can now buy OTOP Philippines products since DTI has partnered with online app SOMAGO.

MSMEs under the OTOP Philippines program can expand their market through the digitalization of OTOP.

“In the Philippines, MSMEs are not merely businesses. They are the bedrock of our economy. It is the Filipino MSMEs who keep our economy. It is the Filipino MSMEs who keep our economy vibrant, diverse, and inclusive,” the DTI chief added.

With the Marcos administration’s push for digitalization, Pascual urged local MSMEs not to miss the opportunity of expanding their markets. (PNA)