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Monday, August 29, 2022

President Marcos Vows to Revitalize MSMEs to Fuel Post-pandemic Recovery

President Ferdinand “Bongbong” Marcos Jr. recently pledged to support the revitalization of the country’s Micro, Small, and Medium Enterprises (MSMEs), recognizing the sector’s role in post-pandemic economic regeneration, job creation, and poverty reduction.

“As your President, I assure you that the revitalization of our MSMEs is among the administration’s top priorities,” President Marcos told the attendees of the MSME Summit 2022 at The Manila Hotel.

“I reiterate the government’s full commitment to work hand-in-hand with all stakeholders to make certain that MSMEs are protected and provided with ample opportunities, not only to recover from these extraordinary times but to grow and thrive in this modern age.”

World economies took a hit as the coronavirus pandemic swept the globe, with businesses being forced to rethink how they could survive the global health crisis and emerge stronger in the aftermath, the President said.

The MSME summit is a great opportunity for businesses not only to see the light at the end of the tunnel but also to finally break through into the sunlight, he stressed, adding that he is delighted to be part of this year’s launching.

The gathering, he noted, could be an apt platform for tackling the strategies on how to revitalize MSMEs under the new normal.

It will also be an avenue for the government and the private sector to find ways to work together, ensuring an enabling and sound environment for the recovery of the country’s MSMEs, which form part of the backbone of the economy by generating more than half of local employment.

President Marcos said he is pleased that the MSME Summit focuses on post-pandemic recovery and the promotion of digitalization, which are aligned with the administration’s priorities.

He also expressed his support for the MSME Development Council led by the trade department in formulating and implementing strategic goals to improve five key business areas: business climate, access to finance, management and labor, access to technology and innovation, and market access. 

This multidimensional approach, the President pointed out, will allow the country to breathe new life into its MSMEs and help them move forward to a more resilient and prosperous future.

After the country navigated through the pandemic in the past two years, the President said it is now the time to come up with pandemic-proof strategies that will allow local businesses to take wing and serve its consumer base with quality products and services.

“Indeed, the success of our MSMEs is crucial to fortifying the foundation of our economy. From this end, it is my assurance [that] we will continue to stand by your side, walk down the same road no matter the circumstances,” he said.

At the same time, Marcos commended Go Negosyo, the Department of Trade and Industry (DTI), the US Embassy in the Philippines, and all other partners, describing them as the government’s reliable allies and partners for collaboration and innovation.

Also present were US Ambassador to the Philippines MaryKay Loss Carlson, Go Negosyo Founder Joey Concepcion III, Trade Secretary Alfredo Pascual, and other members of the diplomatic corps. 


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