CAGAYAN DE ORO CITY, March 17 – City committee on trade and commerce pushed to support Micro, Small and Medium Enterprises (MSMEs).
The City Council committee on trade and commerce chaired by Councilor George S. Goking endorsed to the committee on laws and rules chaired by Councilor Ian Mark Nacaya for appropriate action the proposed ordinance granting authority to Mayor Oscar Moreno to enter into and sign the Memorandum Of Agreement (MOA) with the Department of Trade and Industry-10 for another Bottoms-Up-Budgeting (BuB)project.
This covers the implementation of the Integrated Marketing Assistance for Micro, Small and Medium Enterprises (MSMEs), as one of the pre-requisites for the downloading of fund from the national government in the amount of P4 million.
The Integrated Marketing Assistance for MSMEs has four components, namely: establishment of a Pasalubong Store, Capability Enhancement Training, Trade Promotion Activities and Branding.
Based on the proposal submitted to the committee, the project aims to generate P5 million in sales and provide 200 jobs while assisting about 60 MSME’s.
Target beneficiaries of the project are 50 food micro-enterprises and 10 non-food micro enterprises in Cagayan de Oro.
As its counterpart, the city government will provide the amount of P1 million to be used exclusively for the implementation of the said livelihood poverty reduction projects. (SP)