LUNA, Apayao – The Provincial Micro, Small, Medium Enterprises Development Council (PMSMEDC) disclosed that micro, small, and medium enterprises (MSMEs) in Apayao played a significant role in providing employment opportunities, with 8,690 yApayaos between the ages of 15 and 59 benefiting from employment opportunities in the year 2023.
This came to light during the joint meeting of the PMSMEDC and the Provincial Development Council (PDC) and Kapehan sa Kapitolyo, held on January 8 at the Aliwa Gymnasium.
Department of Trade and Industry (DTI) Apayao Provincial Director Engr. Wena Buston, presented the full report, shedding light on the substantial impact of MSMEs on the local workforce.
According to the report, out of the 75,697 individuals constituting the province’s workforce, an impressive 11% found gainful employment through the initiatives of MSMEs.
The reported employment figure of 8,690 underscores the substantial contribution that these enterprises make to the economic landscape resulting in sustainable development in the province.
This signifies that MSMEs in Apayao are not merely catalyzing economic growth but are also exerting a tangible influence on the livelihoods of the local populace.
Through the provision of employment opportunities, these enterprises contribute to the general well-being and prosperity of Apayao. With initiatives that span various sectors such as agriculture, manufacturing, and services, these enterprises have become instrumental in diversifying the local economy.
Moreover, the PMSMEDC also documented a 1.7% surge in the quantity of MSMEs within the province over the preceding year.
As of 2023, the total stands at 4,594 MSMEs, delineated into 4,538 micro enterprises, 52 small enterprises, 4 medium enterprises, and 2 large enterprises. This figure marks an increase from the previous year’s total of 4,519. Additionally, there has been a notable augmentation in the number of micro enterprises that have transitioned and grown into small, medium, and large enterprises over the same period.
The municipality of Luna holds the largest market share, comprising 25% of the total number of MSMEs within the province. It also distinguishes itself by having the highest count of enterprises that have successfully transitioned from the small to medium scale. On the other hand, Flora town boasts the highest number of enterprises that have undergone upscaling, specifically from the micro to small scale. By PIO Apayao
