CEBU CITY, Sept 13 Asia Pulse – A furniture industry support organization is seeking a P7 million (US$151,000) loan from the Economic Development Council (EDC) through the Export Promotion Fund (EPF).
Marlene Garoatan-Bedia, Cebu Furniture Industries Foundation (CFIF) advocacy officer, said the CFIF submitted its P7 million design program proposal to the EDC early this month.
“The objective of the design program proposal is to enhance the competitiveness of Cebu as the design destination,” Bedia said.
Bedia said the design program submitted is made up of four components.
“First, we intend to get local and national designers to help companies to enhance their products. An example is the Cebu X furniture show,” she said.
“We also have an internship program for industrial design students to give them hands on experience in the industry,” she added.
The other two components are the material collection to help in exploring and offering locally sourced and indigenous materials in the market, and reference sourcing to provide additional materials such as books and publications for the CFIF library.
If approved, Bedia said, the program will not only benefit the 162 CFIF members but also the entire Cebu furniture industry.
The EDC was created by virtue the Export Development Act of 1994 to develop and oversee the implementation of the Philippine Export Development Plan (PEDP) and coordinate the formulation and implementation of policy reforms to support the Plan.
The EDC website said that the EPF is a “public private partnership with initial contributions of P100 million from the Department of Trade and Industry, another P100 million from the Department of Budget and Management and P50 million from the Bangko Sentral ng Pilipinas and P10 million from the Philippine Exporters Confederation, Inc.”
“Another P20 million was contributed by the national government-owned Industrial Guarantee and Loan fund, who was represented by the National Economic and Development Authority,” it said.
With the strengthening of the peso resulting to the continued decline of the export industry, Bedia said, funding programs such as the EPF is a “welcome development.”
She also cited Administrative Order (AO) 194 issued by President Gloria Macapagal-Arroyo recently as “another big help for the industry.”
“We still don’t have an official copy of the AO but we hope the effect of the order will reach us here in Cebu,” Bedia said.
AO 194 mandated the Department of Trade and Industry to work with Technology and Livelihood Resource Centre, government financial institutions and other businesses to draw up and implement a program with development loans to upgrade quality design and packaging of Philippine exports especially those being priced out due to the exchange rate.
(PNA)
