OTOP generates P704-M investments

32,578 jobs also created in first half

Investments for One-Town One Product (OTOP) projects have reached P704 million or 49 percent of the P1.439 billion target for the entire 2010, initial figure from the Department of Trade and Industry showed.

DTI undersecretary for regional operations Merly Cruz said the accomplishment report could be higher once complete reports from Regions V, VII, IX, and CARAGA come in.

“It is 1% short of target but we’re still awaiting the reports from 4 more regions,” Cruz said. In terms of sales, OTOP products have registered P1.623 billion worth of domestic sales out of the P3.792 billion domestic sales target. Exports have also reached $48.016 million over the annual target $193.769 million target.

The DTI has assisted the development of 5,993 OTOP enterprises as against 9,523 target for the year.

These OTOP enterprises have generated 32,578 jobs or about half of the 68,419 employment target.
“The OTOP accomplishments can be attributed to the provision of appropriate assistance in the areas of marketing, training, product development, technology and financing facilitation coupled with the strong public-private partnership as well as with the improved strategies adopted to further develop the domestic-base to enhance MSMEs “competitiveness,” Cruz said.

OTOP is now on its fifth and last year of implementation. So far, the DTI has launched eight OTOP Flagship projects namely Engineered Bamboo, Pangasius, Bayong, Waterlily, Microwable Saba, Veggie Noodles, SPIN (Subcontracting Partnership Innovation and Virtual Poultry farming.

The 5-year OTOP program is about to end this year, but Cruz said the government is looking at some of the OTOP projects with the most potential for growth to determine their next level of development. –BERNIE CAHILES-MAGKILAT, Manila Bulletin