Cagayan de Oro Promotes Incubation Program to Bolster Local MSMEs

CAGAYAN DE ORO — The city government is advocating for an incubation program aimed at supporting micro, small, and medium enterprises (MSMEs) to enhance their visibility and economic impact. This initiative is part of a broader effort to strengthen the local business ecosystem.

According to Philippines News Agency, head of the city’s Trade Investments Promotion Center, during an interview on Friday, the program is crucial as MSMEs represent 98 percent of the 31,000 business registrations this year. Asuncion emphasized the local government’s commitment to listening to and addressing the concerns of entrepreneurs, underlining Mayor Rolando Uy’s open-door policy. The proposed incubation program will offer MSMEs opportunities to showcase and sell their products and will serve as a foundation for feasibility support.

Additionally, 1st District Councilor George Goking highlighted the necessity of improved access to financing, an e-commerce platform, and a comprehensive registry to further enhance MSME capabilities in the city. These topics are slated to be key discussion points at the upcoming “Tinagboan Festival” from August 7-10 at the Limketkai Center rotunda, part of the city’s monthlong Higalaay Festival celebrations.

Ana Marie Viscayno, president of the Food Processors’ Association of Northern Mindanao, noted the city’s continued support since the pandemic has been instrumental in aiding the recovery of their members. She expressed hope for further public support through increased patronage of local products.