August 26, 2024 | 12:00am
Barely a month ago, Cris Aldeguer Roque was appointed acting Secretary for the Department of Trade and Industry (DTI). Prior to her DTI appointment, she was the owner of clothing retail store Kamiseta and skin clinic Kamiseta Skin. As a seasoned entrepreneur who knows the challenges that beset the trade industry, Cris is an excellent choice to head the DTI.
Last Wednesday, Aug. 21, Cris once again opened the National Trade Fair at the SM Mega Trade Hall, which ran until Aug. 25. The Fair proudly showcased the rich variety of artisanal products made in the country..
Despite her busy schedule, Sec. Cris found time to answer a few questions I posed about her plans to help business-minded Filipinos with entrepreneurial aspirations:
What are you goals as DTI Secretary? What do you want to achieve?
“As DTI Secretary, I will focus on three key areas as mandated by President Bongbong Marcos. First will be international trade. We will continue to aggressively attract foreign investors specifically for the manufacturing sector as this will generate jobs. Of course, income will also be generated by these foreign investors. I will be working closely with the special assistant to the President, Sec. Frederick Go, and PBBM’s economic team to strengthen these.
Well-crafted jewelry pieces.
“The second key area is consumer protection. We will strengthen the area to make sure that standards are met to ensure the welfare of the consumers. As for the sellers and manufacturers, we need to make sure that good quality products are being sold and brought into the Philippine market. We will start going to palengkes to check on the prices given by the DTI. We have to make sure also that the prices follow the standard prices and standard way of selling. For example, the timbangan/weighing scale has to be accurate, the food must be of good quality, etc.
“Third is the MSMEs (Micro, Small, Medium Enterprises). The MSME is the backbone of the economy. They comprise 99.5 percent of the business establishments in the country and 60% of the workforce. We will find an aggressive market for this. Once we level up the MSME, this will really be a main driver to the economy of the Philippines. And aside from that, kapag lumakas ang MSME, lalakas din naman ang manufacturing business. Kapag lumakas sila then of course jobs will be provided. There will be a lot of money moving around and that will be a big boost to the Philippines. We must also not forget that the population of the Philippines — there are 115.6 million Filipinos. This is a big driver for both local business, international trade, and international business.
Proudly made in the Philippines, some local products participate in the National Trade Fair.
How will you encourage foreign investors to come in? Is ease of doing business a reality or a dream?
“Yes, we will continue to drive the coming in of foreign investors, make doing business easier, and employ the ‘Create More’ Act. This will encourage foreign investors to explore and check out the Philippines. Why? There’s going to be a lot of incentives for those coming in, especially those in the manufacturing side. When manufacturing strengthens, jobs are created. And when Filipinos have jobs, businesses will flourish. Anytime soon we are waiting for the ‘Create More’ Act which is very important. And then aside from that, we will have stores in the Philippine embassies around the world. These stores will be carrying the products of the MSMEs and showcasing them for visitors to the embassy. The country’s locals will go there and see the products we showcase. Aside from that we can also entertain local buyers of that country to try the products of our MSMEs.
“We will also aggressively focus on the Halal (a dietary law derived from Islamic teachings) industry because there is a market of US$ 3.3 trillion for Halal products. There are already 3,000 Halal products that are being sold in the market internationally, and these are mostly MSMEs. We are happy to hear that some MSMEs have ventured into the Halal business and have also started to penetrate the global market.”
With the emergence of online platforms, how can DTI help protect consumers from scammers and fraudulent sellers?
“The DTI consumer protection and the Fair-Trade Group are really on the lookout for these kinds of sellers. We need to make sure that the consumers, sellers and manufacturing businesses in the Philippines are protected. So we are watching and policing these people that are selling online that are not compliant with the rules and regulations of the DTI.
Stephen Tan, president of SM Supermalls who cuts the ribbon at the National Trade Fair.
Do you encourage Pinoys to get into business? Please give them tips on how to be successful.
“Yes, of course, I encourage Pinoys to get into business! But they must be very vigilant as to what business to get into. For now, I encourage Filipinos to get into the franchising business. Why? First, it is easier. Because they already have a manual and the business is set already. They already have a good batting average or success rate. I work with the Philippine Franchising Association, and this association will give a list of their successful franchises.
“MSMEs or Filipinos can actually have a look at the list and check where their budget fits. I’ve also spoken to Secretary Hans Cacdac of Migrant Workers… more than P37.5 billion is remitted to the country every year. The OFWs want to know what business they can get into. I told Secretary Cacdac that franchising is the way to go. Our OFWs’ money will be put to good use in franchises. Once they’ve established their franchise business from a credible and sustainable franchise, they can already come home and be with their family. So this is something that we are really pushing… to get into franchising.”
Do you see a resurgence of Philippine-made products for export? There was a time when we were the No. 1 exporter.
“As I said earlier, we are opening stores in Philippine embassies all over the world so that we can showcase the Philippine products that are compliant and ready for export. These products will entertain the locals there. So instead of serving the local food, they will serve the Filipino food. For example, instead of serving American food, we serve the Filipino food of the MSMEs that are displayed in the stores.
“Our creative industry is very strong. We are known globally for our furniture, fashion and arts. We will use these as anchors to carry the second stringers, or the MSMEs and to show the world we have levelled up.”
Sec. Roque with special guest at the National Trade Fair, Lizzy Zobel, wife of Jaime Augusto Zobel of the Ayala Group of Companies.
What are your plans for the MSMEs?
“I have a five-point action plan for the MSMEs: 1. Digitalization. The Philippines has 7,600 islands. The only way to communicate and sell is through digital. 2. Diversify. We cannot rely on a single source of income. Should anything happen to the primary source of income, what happens then? We must explore a second or third source of income. 3. Funding. As chairman of SB (Small Business) Corporation, a small government bank, I have initiated some changes in SB corp. For example, we found new ways for them to have access to financing: P.O. (purchase order) financing, check release accounting, receivables funding and franchise funding. 4. Franchising. A franchise is bankable, reputable and low-risk if they are on the list of the Philippine Franchising Association. We will work closely with entrepreneurs who are interested by giving them access to the list. 5. Mentoring and Learning. We must continue to mentor and learn. Sometimes it’s as simple as teaching or re-learning basic accounting, or learning how to use social media as the key driver to sell the product. Knowledge is power.”
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