MTIT budget proposal now at P514-M

COTABATO CITY - To promote economic growth and private sector activity, the Ministry of Trade, Investment, and Tourism (MTIT) has tabled a budget proposal of P514.5 million for the fiscal year 2024.

Trade and industry promotion and development receive the majority of this budget, indicating the ministry's commitment to driving industrialization and economic development.

Ministry priorities, as reflected in the proposed budget, include actions that will boost trade and advance many industries.

Tourism, investment, ecozone development, and Freeport ecozone services also receive substantial funding in the proposed budget.

The MTIT presented its accomplishment report and budget utilization rate during budget deliberations, emphasizing the ministry's effective and transparent use of resources.

The Committee on Finance, Budget, and Management's subcommittee I, chaired by Deputy Floor Leader Atty. Anna Tarhata Basman, scrutinized the ministry's proposed budget, ensuring that the proposed budget sets the trajectory of economic initiatives for next year. (LTAIS-Public Information, Publication, and Media Relations Division)