Recently in the progressive City of Muntinlupa, Mayor Ruffy Biazon reached out to the local micro, small and medium enterprises (MSMEs) and encouraged them to take advantage of the soft loans offered by the City Government, according to a news report by the Daily Tribune.
To put things in perspective, posted below is an excerpt from the news report of the Daily Tribune. Some parts in boldface…
Micro, small, and medium enterprises (MSMEs) are encouraged by Muntinlupa Mayor Ruffy Biazon to take advantage of the soft loans offered by the local government unit, as well as the national government, to elevate from micro to medium entrepreneurs.
In an interview during the opening of “Tindahan ni Tarsee” in Festival Mall in Alabang on Friday, Biazon said the LGU’s Muntinlupa Entrepreneur Financing Division (MEFD) has been consistently providing financial aid through soft loans to MSMEs.
“We are providing funding for MSME capital, interest-free, starting from P5,000 for as much as P150,000. More business owners became successful because of that project, especially those who lost jobs right after the pandemic. Most of them did not return to their jobs and became full-pledge entrepreneurs already,” he said.
Biazon said most of the business owners that the MEFD has assisted are engaged in food businesses and sari-sari stores.
The number of MSMEs in Muntinlupa City is pegged at more than 30,000, an increase from the 15,708 registered businesses in 2019 or before the COVID-19 pandemic hit the country in 2020.
“We can see that our MSMEs are very successful, especially in our city, as they propped up the local economy and provide jobs even at a minimal number of two to three per entrepreneur. Yung mga hindi nakakapasok sa mga malls at ibang companies, sa mga MSMEs they have the chance to have jobs,” he said.
Biazon urged aspiring business owners to take advantage of the MEFD program, which will restart next year on 2 January, as the division’s funds for this year have already been fully utilized.
Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are there any micro or small entrepreneurs among your local community’s members? What do you think makes Muntinlupa an attractive city for MSMEs to do business in?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
In response to the abuse of visa processes and cases of fraud committed by some foreigners, Japan recently tightened the rules for applying for the Business Manager Visa and also raised the capital requirement by six times, according to varied sources. To put things in perspective, the said visa was launched by Japan over a decade ago in order to attract foreign entrepreneurs who can contribute a lot to building up the national economy and create new jobs.
To get yourselves oriented, watch the English-language analytical news video of NHK World by clicking here. To put things in perspective, posted below is an excerpt from NHK’s English news report. Some parts in boldface…
Japan’s business manager residence status, introduced a decade ago to lure entrepreneurs from overseas, has become increasingly popular. More than 41,000 people held it last year.
But concerns have grown that the status was being misused as an easy path to immigration, prompting the government to tighten rules this month – including a steep increase in capital requirements.
Worries about abuse – With the number of business manager visas issued more than doubling in ten years, worries have grown that it was being misused – a view highlighted by then-justice minister Suzuki Keisuke earlier this month.
“It was pointed out that the residential status is abused by some foreigners as a means of moving to Japan, as permit standards are lax compared to the same systems in other countries.” (Suzuki Keisuke)
How have the requirements changed? –Japan introduced this visa 10 years ago to attract foreign entrepreneurs. The goal was to boost investment and create jobs. But new rules for the visa were introduced in October.
The capital requirement was raised six-fold, from 5 million to 30 million yen. That means incoming applicants will need nearly 200,000 dollars in the bank.
The rules also require companies to hire at least one full-time employee, who must be, for example, a Japanese citizen or permanent resident.
It also requires that applicants have at least three years of business management experience or hold at least a master’s degree.
Why tighten the rules? – Authorities said the capital requirement was too low. In addition, they’ve seen a number of fraudulent applications using shell companies that aren’t actually operative in the real world.
“Someone who has no intention of engaging in business activities can obtain business manager residence status as a means of immigrating to Japan. But that is not acceptable from our viewpoint. We made these changes because we believe the previous requirements were too loose.” (Ito Junji)
Over 41,000 people had business manager residence status last year. That number has more than doubled over the last decade.
Social situation in China may be one cause of the increase – More than half of the people holding this residence status are Chinese. Of course, there are legitimate applications. But the visa has also been widely advertised on social media as a means of moving to Japan.
And some Chinese residents are looking for a way to escape their country’s harsh rules. For example, Beijing’s strict lockdown policies during the coronavirus pandemic pushed people away. And China’s high-pressure “entrance exam war” is another reason why people want to leave China. They want to raise their children in Japan to avoid that kind of pressure.
Meanwhile, The Japan News (of The Yomiuri Shimbun) published an editorial about the recent tightening of rules regarding the Business Management Visa. Posted below is an excerpt. Some parts in boldface…
A status of residence originally created to help Japan’s economic growth by accepting entrepreneur-minded foreign nationals is being abused.
The system must be changed in line with its original intent, while authorities must firmly crack down on illegal residency.
The Justice Ministry has tightened the requirements for obtaining the business manager visa, a type of residence status, by revising a ministerial ordinance under the Immigration Control and Refugee Recognition Law.
This type of visa was created in 2015 for foreign nationals who launch businesses in Japan. The number of business manager visa holders has continued to increase, reaching 44,800 in June this year.
In recent years, there have been cases where foreign nationals have reportedly obtained this visa fraudulently by establishing shell companies. The Immigration Services Agency investigated 300 applications suspected of fraud and found that 90% of them had irregularities such as having no actual business operations.
It is believed that the holders of this visa in those cases have come to Japan under the guise of starting businesses with their real purpose being to bring their families for advanced medical treatment or to provide their children with high-quality education. This situation where the system’s original intent is being disregarded cannot be overlooked.
Previously, the government granted this status of residence for up to five years if applicants had an office in Japan and met either of these requirements: having capital of ¥5 million or more or hiring two or more full-time employees.
Under the revised ministerial ordinance, the minimum capital requirement has been raised to ¥30 million and it is now mandatory to hire at least one full-time employee. A certain level of Japanese language ability is another new requirement.
In South Korea, obtaining a similar visa requires about ¥32 million in capital, and in the United States, about ¥15 million to ¥30 million in capital is needed. Compared to other countries, Japan’s lenient visa criteria may have contributed to the rampant abuse.
There are other areas that need to be changed. Currently, screenings for the visa have been conducted primarily through documents alone. If illegal acquisition is suspected, why not conduct interviews with the applicants in addition to on-site inspections?
It is also important to check business operations regularly after the visa is granted. To that end, strengthening the system for immigration checks is indispensable.
Some people say that because screenings of registrations for companies and other entities have been lax in the first place, shell companies have been used as covers for money laundering and other purposes. The loose screening system must be overhauled.
As you can see in the above editorial excerpt, cases of abuse and fraud were spotted by Japan’s government already. In related to the findings, watch the China Observer YouTube video below.
The China Observer video pointed out that a lot of foreigners who applied for Japan’s Business Manager Visa before were Chinese nationals. Some Chinese nationals see the said visa as a shortcut to immigration into Japan and get away from mainland China where their lives allegedly have been hard and restrictive. It is also widely reported that China has been having serious economic problems for years now.
Going back to the Japanese authorities, the changes made on the Business Manager Visa were meant to prevent further fraud from happening, to ensure that companies have substantial operational capability, and prevent the proliferation of shell companies. Along the way, the authorities want to make certain that those who applied for the visa have at least 3 years entrepreneurial experience or have a master’s degree in business management, so that the foreigners (who secretly have no intention to contribute to Japan’s economy) can be prevented from entering.
When it comes to the abuses of the Business Manager Visa, Japanese authorities discovered cases of fraud such as some small buildings in Tokyo and Osaka had as many as fifty different company names registered with the same address, and often with no real staff present. These visa-related fraud cases only add to the endless problems Japan already has. That being said, Japanese authorities did the right thing with tightening the rules and adjusting requirements for the Business Management Visa.
Let me end this piece by asking you readers: What is your reaction to this development? Do you think that too many foreigners abused the Business Management Visa already? Did you notice any foreigners who want to migrate to Japan with a hidden agenda that would only lead to trouble? Do you think other countries should follow Japan’s example?
With the extension of the deadline over, the Bureau of Internal Revenue’s (BIR) withholding tax on online sellers who conduct business on electronic marketplaces (example: Lazada) came into effect recently, according to a Manila Bulletin business new report.
To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…
The Bureau of Internal Revenue (BIR) has started implementing the withholding tax requirement for online sellers who conduct business on electronic marketplaces like Lazada and Shopee.
In a statement, BIR Commissioner Romeo D. Lumagui Jr. said there will be no further extensions for online merchants to comply with the new withholding tax system outlined in Revenue Regulations (RR) No. 16-2023.
Under the BIR regulations, e-marketplace operators are mandated to withhold one percent creditable tax on half of the total payments sent to sellers or merchants for products or services sold through their platform.
“Electronic Marketplace Operators will begin imposing Withholding Tax against their sellers/merchants starting July 15, 2024. We have already extended this by 90 days. No further extensions will be given,” Lumagui said.
Last April, the BIR extended the RR No. 16-2023 deadline until July 14, 2024.
“No more extensions will be given after the previous 90-day extension under [Revenue Memorandum Circular] RMC No. 55-2024,” the BIR noted.
The previous extension was given to allow e-marketplace operators to comply with the requirements of the BIR and adjust to the provisions of RR 16-2023 before the withholding tax is imposed.
Lumagui also clarified that withholding tax is not a new tax, noting it is a system where taxes are collected in advance and later offset against the seller’s total income tax liability.
“The BIR aims to level the playing field between brick-and-mortar stores, which are regularly complying with their tax obligations, and online marketplaces,” Lumagui said.
“Whether their business is operated online or through physical stores, sellers and merchants have to pay their taxes,” he added.
Meanwhile, the BIR has given digital financial services providers more time to switch to the new withholding tax system.
Let me end this piece by asking you readers: What is your reaction to this recent development? If you have been selling through the electronic marketplaces, do you think the 1% withholding tax will be a big challenge in the long-term? Have you prepared your business for the withholding tax?
To put things in perspective, posted below is an excerpt from the Manila Bulletin news article. Some parts in boldface…
THE PHILIPPINE ECONOMY is likely to grow by 6% this year amid strong domestic demand and despite elevated inflation, the World Bank said, raising its forecast from 5.4% in January.
A recovery in jobs, improved consumer sentiment and strong remittances from Filipinos overseas would drive local consumption, the multilateral lender said in its Global Economic Prospects report on Wednesday.
“Despite external challenges, high domestic inflation and tight monetary conditions, domestic demand has once again remained resilient, fueling growth,” World Bank Country Director for the Philippines Ndiame Diop separately told a virtual news briefing.
The latest growth forecast is the lower end of the government’s 6-7% growth target this year. The Philippine economy grew by 6.4% in the first quarter, slower than 8% a year ago and 7.1% a quarter earlier.
“Despite weak global conditions, our upward revision reflects this continued strength in domestic demand,” World Bank Philippines Senior Economist Ralph van Doorn said.
But the potential global slowdown could still affect growth. “Although the global economy displayed remarkable resilience in early 2023, economic conditions will remain subdued for the rest of 2023,” Mr. Diop said.
He said global growth is expected to wane due to “persistent inflation, slowdown of global trade and the effect of recent monetary tightening.”
The World Bank expects global growth to slow to 2.1% this year, though this is higher than its earlier 1.7% projection. It also sees global growth reaching 2.4% next year and 3% in 2025.
“Risks remain tilted to the downside,” Mr. Diop said. “Recent episodes of market instability have raised concerns of a potential spillover. The possibility of further monetary tightening amid sticky core inflation could raise the cost of global financing and lead to a more pronounced and prolonged global slowdown.”
Persistent inflation remained a cause for concern, the World Bank said.
“Although our baseline forecast (shows) inflation will decelerate, it is still the main challenge,” Mr. van Doorn said.
The World Bank expects Philippine inflation to average 5.7% this year, higher than its earlier 4.2% forecast.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you agree with the World Bank’s analysis about economic growth for the Philippines this year? Do you think the Philippine economy can do better than expected by the end of 2023?
Recently in the progressive city of Muntinlupa, the City Government released zero-interest loans to over one hundred and twenty local entrepreneurs amounting to more than P2.5 million, according to a news report by the Manila Bulletin. This is the latest move by the City Government boost the local economy.
To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…
The Muntinlupa City government released P2.58 million worth of loans with zero interest to local entrepreneurs.
A total of 125 entrepreneurs were the beneficiaries of the city government loans released through the Muntinlupa Entrepreneurship Financing Division (MEFD).
“One of the priorities of the local government is focusing on our home-grown entrepreneurs. This is part of our efforts to boost the local economy,” said Mayor Ruffy Biazon.
The beneficiaries, who are composed of micro, small, and medium-sized enterprises, comprised the 148th batch of the long-running program.
Biazon encouraged the beneficiaries to make the most of this opportunity to improve their business and their way of life.
Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Do you hope to see the City Government release even more zero-interest loans to local entrepreneurs? If you are running a small business in the city, have you availed of the loans from the City Government?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
In the progressive City of Muntinlupa, more than P2 million worth of zero-interest loans were released by the City Government to more than a hundred local entrepreneurs who collectively handle MSMEs (micro-small-medium sized enterprises), according to a Manila Bulletin news report.
To put things in perspective, posted below is the excerpt from the Manila Bulletin report. Some parts in boldface…
A total of 103 owners of micro, small, and medium enterprises (MSMEs) in Muntinlupa received P2.26 million zero-interest loans from the city government on Friday, Sept. 9.
The office of the Joint Resources Financing Program held the orientation and release of loans to batches 140 and 142 of the beneficiaries of the Tulong Negosyo at the Ayala Malls South Park.
One of them is Maria Dolores Noble, a “sari-sari” store owner and “adobong mani” manufacturer from Barangay Buli who got a P150,000 loan under the program.
Tulong Negosyo caters to MSMEs and provides micro-finance assistance ranging from P2,000 up to P150,000 depending on the business capital ceiling and payment record of beneficiaries.
The program aims to provide additional capital for business expansion for aspiring and established business owners in Muntinlupa, the first LGU to introduce a micro-financing program.
The Joint Resources Financing Program thanked Mayor Ruffy Biazon for his continued support in helping the growth of small businesses in Muntinlupa.
Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? If you are running a micro, small or medium-sized enterprise, do you intend to avail of a zero-interest loan from the City Government?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Are you a business owner who has been struggling to make ends meet during the pandemic here in the Philippines? On the national level, more support for businesses by means of easing the restrictions has been pushed for by Presidential Adviser for Entrepreneurship Jose Ma. “Joey” Concepcion III according to a recent news report by GMA Network.
To put things in perspective, posted below is the excerpt from the GMA Network news report. Some parts in boldface…
Presidential Adviser for Entrepreneurship Jose Ma. “Joey” Concepcion III on Tuesday called for the need to open up more of the economy in the final quarter of the year, for businesses to recover and be able to pay their dues.
According to Concepcion, the fourth quarter is crucial for businesses given the historically higher consumer spending amid the Christmas holidays.
“We have to open the economy because this is the last quarter. This is time when most negosyantes can get back what they lost in the previous months. Babayaran nila mga 13th month pay, may utang nila sa bangko, sa suppliers [They will have to pay the 13th month pay, their loans in the banks, with suppliers],” he said during the Laging Handa virtual briefing.
Under the proposed measure, vaccinations will be mandated for a range of indoor gatherings in a bit to boost the country’s immunization efforts and only allow privileges to those fully vaccinated.
At present conditions with only 30% indoor dining allowed for fully vaccinated individuals in Metro Manila, Concepcion said businesses do not gain much, noting that this should be increased to at least 50% to carry businesses over to 2022, or even 70% by November or December.
“Ito ang panahon that we should start to live with COVID. Kung pabagsak ang [If there is a downtrend on the] trajectory ng infection level, then we should open up more and more and then keep an eye, watch out if it reverses then we pull back and we can push back,” said Concepcion.
“For now, it’s only one quarter left ’til the end of the year. Bigay na natin ‘to sa mga negosyaante para mabuhay sila ’til next year. [Let’s give this to the businesses for the thrive until next year],” he added.
Let me end this piece by asking you readers: What do you think about Joey Concepcion’s statements on supporting businesses a lot? Do you feel confident about the further reopening of the national economy? Do you think that the Metro Manila Council (MMC) and the Metropolitan Manila Development Authority (MMDA) will understand Concepcion’s pro-business push and make wise decisions this time around?
Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Business tycoon Ramon S. Ang with Olympic gold medalist Hidilyn Diaz. (photo from Ramon S. Ang Facebook page)
To put things in perspective, posted below is an excerpt from the Philippine News Agency (PNA) article. Some parts in boldface…
San Miguel Corp. president Ramon Ang sees Hidilyn Diaz as a game-changer after she ended the Philippines’ 97-year hunt for its first Olympic gold in Tokyo.
“Hidilyn is the country’s trailblazer in our successful Olympic gold medal quest. After years of heartbreaks, she came through for us and we are very thankful as a nation,” Ang said on Tuesday.
Diaz, together with fiancé and coach Julius Naranja, personally received the PHP10 million reward Ang pledged for anyone who would capture the then elusive gold.
Diaz won the women’s 55-kg. weightlifting event at the Tokyo Olympics on July 26, making the Philippines a part of the Olympic gold medal countries’ list.
It also served as the biggest good news the Filipinos have ever received amid the coronavirus disease 2019 pandemic.
“Her victory comes at a very crucial point in our country’s history when we are grappling with a pandemic and a lot of Filipinos are looking for hope as we fight this virus and cope with the difficulties it has brought,” Ang said.
Upon meeting at the SMC office in Pasig City, however, he gave Diaz a surprise gift.
Ang rewarded Diaz with two Magnolia Chick ‘N Juicy franchises that she could put up at her new condominium in Quezon City and at her hometown in Zamboanga City.
“With the franchise outlets, we will assist Hidilyn every step of the way in her journey as an entrepreneur so that she can also help other people in need of jobs. In addition to the physical stores, equipment, and training, we will also provide the initial stocks for free to get her started,” he added.
The generosity of Ramon S. Ang is truly amazing and genuine. Not only was the promised cash reward released to Hidilyn Diaz, he gifted her with commercial franchises which can add to our nation’s economy by creating opportunities for the unemployed to bounce back from poverty while providing choices to consumers looking for good products. I really like this because I truly believe that capitalism the way to prosperity and the most effective way to lift people up from poverty. Capitalism does socio-economic wonders while socialism only drags people down and ruins societies. As it is a fact that cash rewards/incentives from both the government and private sector cannot last forever as the cost of living only keeps going up, having a business that succeeds will keep prevent people from falling into poverty. To see Hidilyn Diaz gifted with business franchises is great!
For those who are not aware, Chick ‘N Juicy is a chicken rotisseries retail business that has many branches and it is being expanded. Chick ‘N Juicy sells chicken supplied by sister company Magnolia. Customers can order from them online with products like sweet roast chicken, garlic roast chicken, fried chicken drumsticks, chicken rice meals and more at https://www.chicknjuicyofficial.com/
Let me end this piece by asking you readers: Are you happy about our nation’s Olympic gold medalist getting rewarded and gifted by tycoon Ramon S. Ang?
Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
It’s been months since the last time I wrote about the Corporate Recovery and Tax Incentives for Enterprises act otherwise referred to as the CREATE Law. For the newcomers reading this, the CREATE Law was designed to cut down corporate income tax which should lead to the creation of new jobs and the attraction of investment in mind. The said law is really crucial in this COVID-19 crisis we are all still living with.
Recently, the Philippine News Agency (PNA) published an article stating that a huge rise of foreign direct investments (FDIs) in the country was realized this past April and the CREATE Law was one of the factors behind it.
To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…
An economist has attributed the rise of foreign direct investments (FDIs) in the country in April 2021 to the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and the opening of the economy.
The Bangko Sentral ng Pilipinas (BSP) on Monday reported the 114.4-percent year-on-year jump of net FDI inflows to USD679 million last April from USD317 million in the same period last year.
In a report, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said lower interest rates and lower cost of some inputs like real estate property and leases are plus factors that enticed higher FDIs.
“Some foreign investors may have started to come in view of the progress made on the CREATE law, which was finally signed on March 26, 2021 and reduces corporate income tax rates to 25 percent for large corporations (from 30 percent) retroactive July 1, 2020, thereby narrowing the gap with the tax rates in other Asean/Asian countries, and also provides greater certainty on investment incentives, thereby helping attract more FDIs and making some foreign investors on the sidelines in recent months/years to become more decisive and finally bring in more FDIs into the country,” he said.
Ricafort said positive credit rating actions on the Philippines, which even got its first-ever A-level credit rating, A-, from the Japan Credit Rating Agency (JCR) in June 2020, also boosted investors’ sentiment on the domestic economy.
The positive credit rating actions, he said, “reflect improved international investor confidence in the country, manifesting the country’s improved economic fundamentals, as well as the country’s attractive demographics.”
These factors are, however, expected to be countered by the still high number of coronavirus disease 2019 (Covid-19) cases, aggravated by new variants that are reported to be more contagious.
Ricafort believes that higher government spending, especially on infrastructure, and the accommodative monetary policy by the Bangko Sentral ng Pilipinas (BSP) are seen to further support the rise in net FDIs.
The above article is indeed filled with good news that our nation badly needs, especially since there are still many millions more people around the country who have yet to get vaccinated and the fact that lots of businesses are still struggling. In recent times, patients under the A4 category have been gradually vaccinated for COVID-19 and that is a very good thing because it under that very category where the nation’s laborers are listed. There are still lots of unemployed workers out there who badly need vaccines and jobs, and it does not help that certain local government units (LGUs) had to temporarily suspend their local vaccination operations due to a lack of supply of vaccines. There are supposed to be around 13 million doses of vaccines to come into the Philippines this month, and so far some of that have arrived (click here, here and here).
More on economics, apart from the rise of FDIs last April, it was reported that the local demand for office space nationwide grew by 38% rising from 122,000 square meters (sqm) in the first quarter of 2021 to 169,00 sqm. in the second quarter. It was described to be the strongest office demand since the start of the pandemic.
Let me end this piece by asking you readers: Does the recent news about the sharp rise of FDIs in our country make you confident about your economic prospects? How much do you know about the CREATE Law and what further positive effects it can generate for the country? If you have been unemployed, how long have you been out of work?
Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
The Department of Trade and Industry – National Capital Region Office has turned over Carinderia Kits to food retailers and other micro-entrepreneurs in Muntinlupa, dubbed as “Muntipreneurs,” in a bid to help them recover and improve their businesses amid the pandemic.
DTI-NCRO Regional Director Marcelina Alcantara, Mayor Jaime Fresnedi, and Congressman Ruffy Biazon led the Awarding Ceremony of Carinderia Kits worth P8,000 each to seventyfive beneficiaries of the Livelihood Seeding Program – Negosyo Serbisyo sa Barangay (LSP-NSB) at Muntinlupa Sports Complex, Brgy. Tunasan last July 7.
City Government officials led by Mayor Jaime Fresnedi and the 75 Muntipreneurs. (source – Muntinlupa PIO)
The LSP-NSB is a program of DTI that allows a wider reach of business development assistance by bringing government services closer to the people through partnerships between relevant local government units and DTI officials.
The program aims to provide individual package of livelihood kits that contains items that could aid in the recovery of affected individuals during catastrophic events including health disasters like epidemics and pandemics.
Other services offered by the LSP-NSB include business registration assistance, SME counseling, product development, financing facilitation, market/business matching, trade promotion, investment promotion, business information and advocacy, trainings, seminars, and workshops, among others. LSP-NSB beneficiaries will undergo monitoring and evaluation to ensure the growth of their businesses.
Other officials attending the program include LSP-NSB National Program Manager Asec. Dominic Tolentino, Muntinlupa Local Economic and Investment Promotions Department chief Gary Llamas, and City Administrator Allan Cachuela.
Mayor Jaime Fresnedi extended his thanks to DTI-NCR for providing assistance to local entrepreneurs. He hoped that programs for micro-entrepreneurs in the city will help revive the stalled local economy due to the COVID-19 pandemic. During the program, DTI-NCRO officials also conferred the Certificate of Recognition for being Rank 1 in the Resilience category (HUCs) of the recent Cities and Municipalities Competitiveness Index to Mayor Fresnedi.
Mayor Jaime Fresnedi (3rd from right) receives the Resilience Award from DTI-NCRO. Also present was Congressman Ruffy Biazon and other local officials. (source – Muntinlupa PIO)
For inquiries and other information, interested micro entrepreneurs may contact the local Negosyo Center at Plaza Central, Brgy. Poblacion at 0917 5120269 and look for Ms. Bea Trozado.
In a similar program, the City Government of Muntinlupa also provides financing assistance to micro-entrepreneurs and MSMEs through Tulong Negosyo Program’s zero-interest loans (formerly Dagdag Puhunan). Muntinlupa is the first LGU to introduce the micro-financing program.
Tulong Negosyo caters to MSMEs and provides micro-finance assistance ranging from P2,000 up to P150,000 depending on the business capital ceiling and payment record of beneficiaries. The program aims to provide additional capital for business expansion for aspiring and established business owners in Muntinlupa.
For more information, visit the Joint Resources Financing Program – JRF Facebook Page or visit them at 2F Plaza Central, Brgy. Poblacion with contact numbers 8772-3457and (0921) 888 6124.
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The above information was sourced from the official press release of the Muntinlupa PIO. Some parts were changed for this website.
Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Author Carlo Carrasco 