HB09729: AN ACT INSTITUTIONALIZING THE SHARED SERVICE FACILITIES PROJECT FOR MICRO, SMALL, AND MEDIUM ENTERPRISES, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 6977, AS AMENDED, OTHERWISE KNOWN AS THE “MAGNA CARTA FOR MICRO, SMALL AND MEDIUM ENTERPRISES”
This bill institutionalizes the Shared Service Facilities (SSF) Project for Micro, Small, and Medium Enterprises (MSMEs) under the Department of Trade and Industry (DTI). The bill aims to address gaps in the production value chain, promote innovation, and enhance the capacities of MSMEs by providing them access to better technology, sophisticated equipment, and common service facilities. It also mandates the establishment of SSF Fabrication Laboratories (SSF-FAB LABS) in every province.
The impact of this bill on the Filipino people, particularly entrepreneurs and small business owners, is significant as it directly supports the growth and competitiveness of MSMEs, which are crucial drivers of the economy. By providing access to advanced tools and knowledge, the bill empowers MSMEs to produce higher-quality and more diverse products, enabling them to tap into wider local and global markets. This institutionalization of support will lead to increased job creation, higher incomes, and overall economic development in communities across the country.