President Ferdinand R. Marcos Jr. on Wednesday vowed to form a comprehensive strategy to foster a conducive environment for micro, small and medium enterprises (MSMEs) in “Bagong Pilipinas.”
“Aptly titled the MSME Development Plan [2023-2028], this strategic roadmap is structured around further improving the business environment, enhancing skills and innovation, and expanding market access,” President Marcos said.
The President made the remarks during the 2024 awards for outstanding MSMEs and Presidential recognition for outstanding development partners at the Malacañan Palace on Wednesday.
President Marcos said the government will institutionalize the plan through an Executive Order (EO) “that will set the specific roles and outline the procedures and activities for all involved agencies.”
He said the Department of Trade and Industry (DTI) is now working with the MSME Development Council and the Office of the President to finalize the EO.
“So, let us collaborate on this endeavor and remind us that the way forward for MSMEs lies in our ability to innovate, collaborate, and persevere. Let us remember that we sustain our patronage of, support for, and solidarity with our local businesses,” the President said.
“For every enterprise that we support, every innovation that we foster, [and] every product that we bring to [the] market, we create the opportunities for our fellow Filipinos to succeed and to build inroads for our economy to thrive and to prosper.
“With this foremost in our minds, let us continue moving forward and pushing the boundaries for our MSMEs and hence, our economy,” he added.
MSMEs in the Philippines comprise 99.59 percent of the total establishments, highlighting their huge impact on employment and livelihood. At least 1,105.143 out of 1,109,689 total business enterprises are MSMEs.
The Presidential Awards for Outstanding MSMEs was launched by the DTI during the National MSME Summit 2023. It was renamed from Outstanding MSME Awards to its current name pursuant to Republic Act 9501, or the Magna Carta for MSMEs. PND
