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OTOP is a priority stimulus program for Micro and Small and Medium-scale enterprises (MSMEs) as government's customized intervention to drive inclusive local economic growth. It enables localities and communities to determine, develop, support and promote culturally-rooted products or services where they can be the best at or best renowned for.
Micro businesses in the Philippines can be defined according to the size of assets, size of equity capital, and number of employees. A typical micro business is a business that employs nine people or fewer, with assets of ₱3 million and below. In the Philippines, about 90 percent of all businesses are categorized as micro businesses.
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations such as the World Bank, the OECD, European Union, the United Nations, and the World Trade Organization (WTO).
Agriculture in the Philippines is a major sector of the economy, ranking third among the sectors in 2022 behind only Services and Industry. Its outputs include staples like rice and corn, but also export crops such as coffee , cavendish banana , pineapple and pineapple products, coconut , sugar , and mango . [ 1 ]
Under the Tatak Pinoy Act, industries in the Philippines are encouraged to produce high-value and sophisticated goods and services, enhancing their competitiveness both globally and domestically. This initiative aims to drive innovation and technology transfer, leading to faster economic growth and improved incomes for Filipinos, ultimately ...
Micro, small and medium enterprises (MSMEs) Social enterprises; Promotion of entrepreneurship and the regulation of entrepreneurial practice; Patents, copyrights, trade names and trademarks; Standards, weights, measures and designs; Quality control, control and stabilization of prices of commodities; Consumer protection; Handicrafts and cottage ...
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A subsidiary, the Solar Philippines Nueva Ecija Corp. (SPNEC), which is intended to operate the Nueva Ecija Solar Farm as the world's largest solar farm was listed in the Philippine Stock Exchange in December 2021 [1] [2] SPNEC was renamed as SP New Energy Corp. in 2022. [3] SPNEC began construction of the solar farm in 2021. [4]