DAVAO DEL NORTE (PIA) -- The micro, small and medium (MSMEs) can avail up to a maximum of P3 million financial assistance from the Department of Science and Technology (DOST) to buy the necessary units of machine or equipment to upgrade their product processing.
Guesting in the radio program "Sayron Ta! Pakigsayod," DOST Project Technical Assistant Engr. Christhelle G. Gerona explained this as the substantial part of the Small Enterprise Technology Upgrading Program (SET UP) package.
The SET-UP financial assistance is payable within three to five years without interest.
Aside from a letter of intent, interested MSMEs have to submit their business permit, the latest audited financial report, business registration issued by the Department of Trade and Industry (DTI) or the certificate of registration issued by the Cooperative Development Authority (CDA), in case the proponent is a cooperative.
A flagship national program of DOST, the SET-UP dispels the notion that mechanizing the process of production is costly, thereby encouraging MSMEs to shift from the manual method.
“So kani gibuhat nga strategy ni DOST aron nga ma-encourage jud sila nga mo adopt ug mga innovation nga mga technologies, mga makinarya nga para sa ilahang mga businesses (This is done by DOST as a strategy to encourage them to adopt innovative technologies, machines for their businesses),” she said.
DOST is looking at levelling up the global competitiveness of locally produced products by improving the production system of MSMEs for them to also produce more, she explained.
In a year, the DOST Provincial Science and Technology Office (PSTO) can accommodate up to eight MSMEs to avail of the SET UP financial assistance, but Gerona said it will accept more applications for processing.
DOST PSTO will screen all applications and will take time to visit each MSME establishment for assessment and technical assistance.
“Kung dili man sila mahatagan sa financial nga assistance, naa sila sa technical nga assistance nakakuha. kumabaga walay mogawas sa DOST nga walay makuha gyud (In case they won’t qualify for financial assistance, they can get technical assistance. So, no one would be leaving DOST without any assistance given)," she said. (JMDA/PIA Davao del Norte)
