The Department of Trade and Industry (DTI) Provincial Office in Oriental Mindoro is now actively implementing programs and services for micro, small and medium enterprises (MSMEs).
The program is mandated under Republic Act 9178, otherwise known as the Barangay Micro Business Enterprises (BMBEs) Act of 2002, which provides incentives and benefits for BMBEs.
A BMBE can be any business enterprise engaged in production, processing or manufacturing of products, including agro-processing, as well as trading and services, with total assets of not more than P3 million, said DTI Provincial Director Oscar M. Agbay.
He explained that assets will include those arising from loans but not the land on which the plant and equipment are located.
In terms of incentives, BMBEs are exempted from income tax and minimum wage law. They will, meanwhile, enjoy special credit window, and technology transfer, production and management training, and marketing assistance.
The DTI Provincial Office is organizing fora and briefings to inform the public about the program.
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