Marcos highlights 'multidimensional approach' to revitalize MSMEs

As the country celebrates the National MSME month, President Ferdinand "Bongbong" Marcos Jr. stressed the importance of having a multidimensional approach to revitalizing micro, small, and medium enterprises after suffering from the Covid-19 pandemic.

In a speech on Friday, August 26, Marcos expressed his support for the MSME Development Council led by the Department of Trade and Industry (DTI) for coming up with plans to help revive MSMEs.

According to the President, the DTI is formulating and implementing strategic goals to improve five key business areas, namely:

• Business climate
• Access to finance
• Management and labor
• Access to technology and innovation
• Access to market

"This multidimensional approach will allow us to breathe new life into our MSMEs and help them move forward to a more resilient and prosperous future," Marcos said.

"We will harness the strengths of various sectors to ensure a more cohesive government approach to creating a more sustainable environment for our MSMEs and all our important stakeholders," he added.

Meanwhile, despite Filipinos overcoming the pandemic, President Marcos said it was time to come up with "pandemic-proof" plans to allow businesses to thrive.

"The past two years have certainly been difficult, but they only show how strong we are as a nation," he said.

"Now is the time to come up with these pandemic-proof strategies that will allow our businesses to take wing and serve their consumer base with quality products and services," he added.

On Friday, Marcos renewed his administration's commitment to supporting MSMEs, saying its success was crucial to fortifying the foundation of the country's economy.

"From this end, it is my assurance -- we will continue to stand by your side, walk down the same road no matter the circumstances," he said.