Acknowledging the importance of micro, small and medium enterprises (MSMEs) as the country recover from the Covid-19 pandemic, President Ferdinand R. Marcos Jr. on Friday said the government remains committed to streamlining existing processes and making it easier for businesses to thrive and flourish.
“Let me assure you that the government remains dedicated to streamline existing processes and making it easier for businesses to thrive,” Marcos said during the ribbon cutting of the Small and Medium Enterprises (SME) Hub at Savya Financial Center in Taguig City.
“We will continue to initiate worthwhile programs to give our ‘kababayans’ enough space and resources to maintain, start, and even restart their ventures,” the President added.
In a news statement, Marcos encouraged all of the country’s MSMEs to avail of the existing financial assistance and facilities that the government has provided together with its partner institutions to maximize their growth potential.
The President also advised them to embrace information and communications technology (ICT) for the country’s digital transformation to ensure the continuity of business amid the Covid-19 pandemic and meet the growing demands of businesses and consumers.
According to the chief executive, MSMEs hold real potential to become the Philippines’ engines for inclusive economic growth recovery, as they account for more than 99.5 percent of all business establishments in the country based on 2021 figures.
The MSMEs also provide over 5 million jobs for the nation’s citizens, enabling a significant portion of the population to not just survive and fulfill their most basic needs, but also empower them to pursue their dreams, Marcos pointed out.
At the same time, the President said the new financial hub is a welcome space where people, particularly those working in the MSMEs, can find and create meaningful opportunities for their businesses.
Moreover, it is a testament to the fruits that can be harvested when people engage in meaningful collaborations, Marcos said, adding that the hub’s unveiling is in line with the national goal of advancing growth and development.