The Department of Science and Technology (DOST) said on Friday that it has spent P1.8 million to fund technology innovations and development support for different small and medium enterprises (SMEs) in Siquijor province.
Through its Small Enterprise Technology Upgrading Program (Setup), the DOST divided the P1.8 million to SMEs from different industries, which includes welding, furniture and food processing.
Mario de la Peña, DOST provincial director, said the agency supports SMEs as they are “the engine for job creation and wealth distribution” of the country.
He added that the agency ensures priority sectors are properly assisted through the Setup program, which has the objective to “encourage and assist micro-, small- and medium-scale enterprises to adopt technological innovations that will improve their operations and boost their productivity and competitiveness.”
The Setup P1.8-million aid was distributed among the following firms in Siquijor: Dodge Welding for machinery upgrades costing P350,000; Naning’s Furniture Shop with P600,000 for production equipment upgrade; Charito Jumadla for a furniture processing facility upgrade worth P115,200 and P127,700 for DMB Wood Pecker Shop.
For food-processing industry, Peryang’s Food Products got P179,000 to improve its peanut turon processing technology and Honeybeh Meatshop got P450,300.
According to DOST, the Setup program enables “firms to address their technical problems through technology transfer and technological interventions to improve productivity.”
This is also in line with the government’s thrust have inclusive growth through SME development, job generation and improved infrastructure and business investments.
Kristyn Nika M. Lazo