Makati City: The Department of Tourism (DOT) and the Department of Trade and Industry (DTI) have formalized a partnership aimed at integrating tourism and trade-related initiatives in the Philippines. This collaboration was solidified through a memorandum of agreement (MOA) signed by DOT Secretary Christina Garcia Frasco and DTI Secretary Cristina Roque at a ceremonial event held at the DOT Central Office.
According to Philippines News Agency, the MOA is designed to establish a framework for cooperation between the DOT and DTI. This partnership will focus on enhancing tourism-related industries by promoting joint trade and tourism missions, fostering sustainable tourism enterprises, and providing training and development for micro, small, and medium enterprises (MSMEs) in popular tourist regions of the country.
In addition to this, Roque highlighted that the alliance with DOT will facilitate access to funding through the Small Business (SB) Corporation, DTI’s financing arm. This funding will support entrepreneurs in the tourism sector, Tatak Pinoy stores, and One Town, One Product (OTOP) outlets. The SB Corporation has approximately PHP500 million available for loans to tourism-related businesses, with potential for further expansion based on demand.
Roque emphasized the DTI’s dedication to supporting MSMEs, which are vital to the economy, ensuring their active participation and success within the tourism value chain. DOT Secretary Frasco echoed this sentiment, expressing optimism that the MOA will drive growth, inclusivity, and sustainability in both tourism and trade sectors.
Frasco also mentioned the upcoming implementation of a value-added tax (VAT) refund for foreign tourists, which she believes will further expand shopping tourism in the country. Citing that 2024 was a significant year for Philippine tourism, with international spending reaching PHP760 billion, she is hopeful that the partnership with DTI will help surpass these figures and boost both international and domestic tourism receipts in the future.
