Manila: Speaker Faustino 'Bojie' Dy III emphasized the need for increased support for micro, small, and medium enterprises (MSMEs) in the Philippines, suggesting that Filipino entrepreneurs are capable of producing exceptional, high-quality products if given the necessary opportunities. This announcement was made at the launch of 'OTOP is in the House 3.0 - B2B House Appliance Fair 2025' held at the North Wing Lobby of the House of Representatives.
According to Philippines News Agency, the Speaker pointed out that the principles of the One Town, One Product (OTOP) initiative demonstrate the potential of small, community-based enterprises in fostering inclusive growth. With over four decades in public service, Dy has learned the importance of providing support to Filipino enterprises, which he believes can lead to the creation of world-class products.
Dy highlighted that the fair serves not only as an exhibition but also as a celebration of the livelihood, talent, and creativity of Filipino entrepreneurs. He referenced a recent study from Isabela, his home province, which revealed that over 85 percent of OTOP entrepreneurs operate as sole proprietors with capital ranging from PHP10,000 to PHP50,000. Despite these limited resources, these entrepreneurs continue to dream and build, producing items such as delicacies, rice cakes, sauces, drinks, and agricultural goods like coffee, which have the potential to reach national and international markets.
He further elaborated on the concept of 'One Town, One Product,' emphasizing the quality and global market potential of these local products. Dy also noted that the strength of the small domestic appliances industry mirrors the broader capabilities of Filipino innovation and craftsmanship.
The Speaker expressed the House's commitment to facilitating business operations for MSMEs and ensuring equitable access to capital and markets. He encouraged distributors, buyers, and partners to engage in collaborations that yield concrete benefits for communities, including job creation and livelihood opportunities that inspire hope among Filipinos striving for a better future.
Dy concluded by expressing gratitude to key figures and organizations, including the Department of Trade and Industry led by Secretary Ma. Cristina Roque, Deputy Speaker Ferjenel Biron, House Committee on Trade and Industry Chairman Maximo Dalog Jr., and the Association of Small Domestic Appliances of the Philippines Inc., headed by Carlo Yao, for their contributions to strengthening local industries.
