DAVAO CITY – The 15 micro, small, and medium enterprises (MSMEs) from the Davao Region generated a total of Php5.57 million in sales during the Department of Trade and Industry (DTI) – Bagong Pilipinas National Food Fair held on July 3 to 7 at the SM Megamall, Mandaluyong City.
The participating MSMEs from the Davao Region were assisted through DTI’s One-Town-One-Product (OTOP) Philippines program and the Comprehensive Agrarian Reform Program (CARP).
DTI 11 Regional Director Romeo L. Castañaga gladly shared that a huge portion of the total sales, or 52%, was booked sales. Meanwhile, cash and under-negotiation sales accounted for 8.80% and 38.9%, respectively.
“The participation of our MSMEs in the national fair was aimed at showcasing the region’s finest innovative agri-based products that speak of Davao’s potential and abundance of natural resources in a wider market,” Castañaga said.
“The market responded well to the variety of products that we offered at the NFF, which included coconut-based items, processed fruits and nuts, coffee, cacao, farm-fresh produce, native ingredients, traditional delicacies, and halal foods; hence, the favorable outcomes,” he added.
Castañaga added that the expanding market reach could lead to substantial profit margins, with further benefits including a positive economic impact through increased job creation and investment.
The DTI Bagong Pilipinas National Food Fair 2024 was organized by the DTI–Bureau of Market Development, Promotions, and OTOP under the MSME Development Group, in coordination with the DTI Regional and Provincial Offices.
With this, DTI 11 is committed to empowering MSMEs through a range of programs. These include product development, skills enhancement, and market training seminars, all aimed at fostering sustainability and growth in local businesses.
From January to June of this year, DTI 11 has already assisted 305 MSMEs in their participation in different trade events nationwide. More MSMEs are expected to gain exposure further as six (6) trade fairs are still to be conducted until the end of 2024.
“These trade shows are crucial in market expansion since these serves as a potent vehicle and venue where buyers, including the institutional ones, are found. Through the years, our MSMEs have continued to find and partner with more buyers by participating in trade fairs,” Castañaga noted, adding that DTI 11 is committed to developing more market-ready entrepreneurs with improved products and services. ♦
Date of release: 16 July 2024
