President Ferdinand "Bongbong" Marcos Jr. renewed his commitment to streamlining existing processes in government offices to make it easier for businesses to thrive.
Marcos said this as he led the ribbon-cutting of the Small and Medium Enterprises (SME) Hub at Savya Financial Center in Taguig City on Friday, October 28.
In his remarks, the President vowed that the government would develop the appropriate measures as he recognized the importance of micro, small, and medium enterprises (MSMEs) as the country recovers from the Covid-19 pandemic.
"Let me assure you that the government remains dedicated to streamlining existing processes and making it easier for businesses to thrive," he said.
"We will continue to initiate worthwhile programs to give our kababayans enough space and resources to maintain, start, and even restart their ventures," he added.
Marcos encouraged all of the country's MSMEs to avail themselves 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 business continuity amid the 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.
Marcos added that the MSMEs also provide over 5 million jobs for the nation's citizens, enabling a significant portion of the population to survive, fulfill their most basic needs, and empower them to pursue their dreams.
At the same time, President Marcos 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.
He said it is a testament to the fruits that can be harvested when people engage in meaningful collaborations and that the hub's unveiling aligns with the national goal of advancing growth and development.