Aframework document involving the setting up of a movable collateral registry system that aims to further encourage micro, small and medium enterprises (MSMEs) to participate in the country’s economic activity and contribute to job creation was signed on Friday at the Department of Finance (DOF).
The finance department said that MSMEs provide one of every three jobs in the Philippines and contribute nearly 30 percent to the gross domestic product. However, these enterprises usually have only movable assets to offer as collateral.
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