More businesses open this year: DTI survey

Department of Trade and Industry Secretary Ramon Lopez said more businesses have restarted their operations since the government implemented a gradual reopening of economic activities.

Lopez said DTI’s impact assessment survey showed that businesses that fully ceased their operations have gone down to five percent in early 2021 from a peak of 34 percent last year.

The DTI surveyed over 15,000 micro, small, and medium enterprises in its latest survey from Januray 28 to February 10.

Lopez said the government has been implementing its REBUILD Strategy—Revitalizing Businesses, Investments, Livelihoods, and Domestic Demand– to ensure the country’s economic recovery.

Since mid-2020, DTI has been rolling out its zero-interest loans for MSMEs to help them restart their businesses and survive amid the pandemic. The Small Business Corp. has already released 2.5 billion pesos worth of loans as of March 16.

Source: https://www.pna.gov.ph/articles/1133966

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