Cagayan de Oro chosen as 'Go Negosyo Act' pilot area

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Friday, August 8, 2014

SENATE Bill No. 2046 or the Go Negosyo Bill was recently signed into law by President Benigno Simeon Aquino III last month?

The Go Negosyo? Act primarily aims to help micro, small, and medium enterprises (MSMEs) develop and expand in their respective areas, thus pushing forward national development and reducing poverty.

Entrepreneurs in Cagayan de Oro City has so much to be thankful for as the city was named by Senator “Bam” Aquino, author of the bill, as one of the pilot areas for its implementation as per recommendation by the Department of Trade and Industry (DTI).


The chairman of the senate committee on trade, commerce and entrepreneurship, Aquino said that the Northern Mindanao region, particularly the city, possesses MSMEs that has great potential.

??“Kapag mas maraming negosyo ang nagbukas at lumago, mas marami silang mabibigyan ng kabuhayan at trabaho sa kani-kanilang mga komunidad (When many businesses open and flourish, they will provide more opportunities and livelihood for their respective communities),” Aquino said in an interview with Entrepreneur Philippines Magazine.

The Go Negosyo Act will also encourage individuals to start mini-businesses and in time, the MSMEs will be able to create local jobs, production and trade in the Philippines.

The establishment of “Negosyo Centers” in all provinces, cities and municipalities is mandated in the act.

Each Negosyo center will be responsible for promoting local products and services and also where customers go for referral on local products and services in the region.

The act also encourages government institutions to help disseminate information regarding the Negosyo centers, build support and connections for the MSMEs, coordinate with local chambers of commerce and business organizations and support activities organized by the MSMEs.

The Negosyo centers will promote public and private partnerships and will be facilitated by the DTI in each province and city.

According to Jesse Abear of DTI-10, a Business Resource and Innovation Center for SMEs (BRICS) was planned by DTI before the act was signed by the President.

BRICS Cagayan de Oro is set to be launched by the end of August this year according to the DTI’s website. However, the date is yet to be confirmed by the DTI provincial office.

“We are still planning about BRICS as of now. While the implementing rules and regulations of the Go Negosyo Act is yet to be forwarded by our head office, the department is discussing about BRICS. We will disseminate information once we receive the IRR,” Abear said.

Published in the Sun.Star Cagayan de Oro newspaper on August 08, 2014.


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