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MANILA - Micro, small and medium enterprises created three-fourths of the government's one-million jobs target in the last 12 months, the Department of Trade and Industry said on Wednesday.
In a statement, Trade Undersecretary Merly M. Cruz said MSMEs generated 762,840 jobs from July 2011 to June 2012.
“These figures reflect the positive response on government efforts in developing Filipino enterprises and enabling them to contribute considerably to employment generation and inclusive growth,” Cruz said.
“With the present administration’s thrust to create a favorable business environment for a strong economy, the MSME sector has a strong potential to be the driver of inclusive growth. Hence, MSME growth and development is vital not only for national economic development but more importantly to the government’s goal of alleviating poverty,” she added.
The DTI said the MSMEs generated P24.67 billion in domestic sales and $586.04 million in export sales.
Investments in MSMEs totaled P43.51 billion.
The DTI said one million micro enterprises were also beneficiaries of micro-financing programs that released P25.31 billion in loans.
For SME financing, P22.68 billion was extended to 11,907 enterprises.
By 2016, the MSME Development Plan 2011 to 2016 targets 40 percent contribution of the sector to total value added and two million to total jobs.
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