• P9-M tech loans given to Eastern Visayas MSMEs


    THE Department of Science and Technology (DOST) provided P9 million funds to 19 micro small and medium enterprises (MSMEs) in Eastern Visayas provinces to develop technology of businesses in the regions.

    Under the Small Enterprise Technology Upgrading Program (SET-UP), DOST Research Specialist Caesar Roderick Tado said that the project is focused to help provincial enterprises to advance their technology.

    “SET-UP is not about funds, it’s about technology. Funding is an effect of the technology that they will adopt or infuse in their businesses,” Tado said.

    Aside from granting businesses loans, the SET-UP project will include deployment of DOST personnel to check the beneficiaries and determine appropriate technology for the improvement of their production capability, sales and even employment generation.

    The P9 million technological fund will go to Biliran with P711,000 share, Southern Leyte with P1.1 million, Northern Samar with P1 million, Samar province with P396,000 and Eastern Samar with P146,930.

    The DOST budget allotment for the SET-UP program totaled to P21 million for 40 projects this year.

    Tado said that there are still 21 proposals pending for approval of additional funds for businesses in the provinces while the rest are still in the process of complying with the requirements.

    He added that SET-UP program is focused on granting funds and developing technologies of sectors such as food, native and indigenous handicrafts, metals, furniture-making, aqua culture and horticulture.

    The DOST’s SET-UP program supports MSMEs by funding and monitoring business operations and determining technology needed by the establishment, which is valid under a three-year contract if approved.

    In 2012, DOST released a total of P13.6 million for 32 projects in Eastern Visayas. KRISTYN NIKA M. LAZO


    Please follow our commenting guidelines.

    Comments are closed.