DTI encourages Saving Jobs Through Product Localization

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In a keynote speech at the Bayanihan: Rebuild Industries and Save Jobs, Ramon Lopez states that the country must be less reliant on imports, specifically products that are in great demand during the pandemic like the personal protective equipment (PPE) since other countries are also going to prioritize the needs of their markets.

He also states that the Board of Investments (BOI) and the Department of Trade and Industry (DTI) are planning to increase the local capacity of many of these products to address the domestic demand.

The DTI Secretary stated that getting hold of these products was difficult during the height of the pandemic because again, other countries were prioritizing their own needs.

The Philippine only had one manufacturer that can only supply 2 million face masks a month before the outbreak and so the Philippines was left short when everything went into full lockdown.

The solution of both government agencies is to insist on local production for these goods by repurposing other manufacturers’ facilities. As a result, Lopez claims the country can now produce around 56 million masks per month (a little over half the country’s total population).

Philippines must support local industries

Lopez adds that the country has to be self-reliant so increasing production capacity is a must.

He also adds that while the domestic capacity is increasing, the local populace must also be encouraged to buy from the local manufacturers, and he also stressed that buying local will save local businesses.

“Rather than import where we save the jobs abroad, if we buy local, we save the jobs here and we generate jobs locally for Filipinos. That’s the reason we wanted to build production capacity, relying less on imports. We build the capacity so that capacity will supply and meet the demand for a growing economy.”

The Philippine economy is slowly opening up and thus new opportunities are going to be available soon for those who lost their jobs and those whose businesses closed. With that said, funding these new opportunities are going to be needed. Until a vaccine is found and given to all, it is unlikely for things to go back to the way they used to be so under this new normal, a minimum health protocol is being implemented.

A similar tone is being proposed by the Department of Tourism (DOT) where the Tourism Secretary Bernadette Romula-Puyat states: “The reopening of Boracay to new market sources signals a gathering momentum for domestic tourism all over the country. We are pleased that the BIATF (Boracay Interagency Task Force) and the local government units of the Province of Aklan and Municipality of Malay have agreed to put health and safety as the priority as we carefully and safely welcome more guests to the island.”

The secretary states the reopening process will be done in a “calibrated” fashion. Travelers are also expected to first undergo a voluntary Covid test which must result in a negative, 48 to 72 hours before their departure.

Essential businesses like those in the food industry, medicine, and finance are the only ones guaranteed to be open but even then all are, on a good day, operating at half the capacity.

Need for additional funding

Regardless, starting a business or resuming one will need financing to pay off unpaid rent and utility bills. The grace period given to all is about to be lifted and all unpaid debts will have to be paid in small installments. For small businesses, even a small amount of cash can go a long way in getting things going again. But sourcing cash can be difficult as everyone else, like a close relative, may also be having financial difficulties.

Banks? They could work but their stringent requirements aren’t appealing to an already struggling business owner. There has to be a simpler solution.

If you are a prospective business owner and need a quick source of cash, Robocash can be an excellent solution for you to start your business. The same applies if you already have a business and are just looking for some quick cash to jump-start things again. Robocash company is a hassle-free solution that will get you started at once.

What are the Requirements for Getting a Loan at Robocash?

For people who want to borrow, not to run a business, you need to be a Filipino citizen age 21-70. You must still be 70 years old or under by the time the term loan ends. You will also need a valid government ID. There are many such Ids like a Voter’s ID, Postal ID, TIN, Driver’s ID, etc. Borrowers will also have to provide a working mobile phone number, and finally, borrowers must have a registered account at the Robocash website.

What are the Benefits of Borrowing from Robocash?

1.  Borrowers can have their borrowed cash in just a few seconds. From there it all depends on how fast the bank, which was assigned as a pick-up station, on how fast they will process the payment. Alternatively, the cash can also be picked up from other places like Cebuana Cash Pick-up or G-Cash. Both of which will have your money in less than 24 hours during working days.

2.  Robocash Requirements are easy to provide.

3.  There is no need to fall in line at a bank, all these transactions can be done via the internet or Robocash’s mobile app.

4.  No collateral is required.

5.  Payment terms are flexible.

For those who are borrowing for the first time under a quick payday loan, they can borrow an amount from PHP 1,000.00 to PHP 10,000.00. The amount is payable within 15 days with an interest of 0% daily. These conditions apply only to those who are borrowing an installment loan for the first time. Those repeat borrowers, they can borrow amounts ranging from PHP 1,000.00 to PHP 25,000.00. The amount is payable within 30 days with an interest of 1.5% daily. Finally, if you need more information about obtaining a loan, you can get a in-depth read at the Robocash website. We wish you that in a difficult financial situation you can always find a quick solution!

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