Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said Friday her agency is seeking an additional P2 billion in funding on top of its proposed P12.9-billion allocation for 2025 to strengthen programs on foreign trade, consumer protection and micro, small, and medium enterprise (MSME) development.
Roque said at the opening of the Coconut Trade Fair in Mandaluyong City on Friday the extra funds would cover foreign trade and investment promotion, including marketing initiatives and overseas roadshows, to help attract fresh inflows of capital.
“We want the trillion-peso investments to happen but we also need money to get more. Part of the additional request is P1 billion for marketing and to send our people abroad to do roadshows,” Roque said.
She said the DTI also requires more resources to modernize equipment and strengthen fair trade and consumer protection activities, particularly in monitoring basic necessities and prime commodities.
“For more than a year, there has been no price increase in basic necessities and prime commodities, and that’s good. But we need additional people and resources to sustain this work,” she said.
Another portion of the request will go to supporting MSMEs, which Roque described as a vital sector of the economy.
She cited the success of DTI-organized trade shows, with sales growing fivefold from P20 million to P100 million over a five-day expo.
“The exhibitors have also grown from 100 to 350. Most of them are from the provinces, so we need to create more avenues for MSMEs to sell their products,” she said, adding that more support is needed for halal certification to expand the reach of local products abroad.
Roque said the DTI is pushing for an additional P450 million to support the country’s creative industry, which she described as a driver for trade and tourism.
“Look at Korea—they use the creative industry as a growth driver. We want the same for the Philippines. The creative sector is where we have a competitive edge, and we need to fund it properly,” she said.
Last year, DTI received about P7.9 billion, almost half of this year’s proposed P12.9 billion allocation. Roque expressed optimism that lawmakers would consider the additional P2 billion, as well as the creative industry funding, given the broad support for SMEs and foreign trade promotion.
“Based on the budget hearing, everybody wants to support SMEs and foreign trade. Each region or province will also grow once they attract more foreign investments,” she said.
