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Published May 12, 2021, 5:00 AM
The leader of the Philippine exporters’ organization called on the government anew to reinvest in micro, small and medium enterprises (MSMEs), which represent 98% of total enterprises and are considered the backbone of the economy.
Philippine Exporters Confederation, Inc. (Philexport) president Sergio Ortiz-Luis, Jr. said in a recent e-forum that despite comprising the overwhelming majority of businesses and accounting for up to 65% of total employment and 30% of GDP, “the Philippine MSME sector is the most ‘under-banked’ sector in the whole of Asia.”
Philexport president Sergio Ortiz Luis Jr.
Ortiz-Luis decried that empowering MSMEs is still not taken seriously, with development programs, legislature and laws initiated over the years to assist small enterprises being mostly “token” efforts that have not “even scratched the surface” in terms of MSME development.
SunStar
+ May 10, 2021 A TOP official of the Philippine exporters’ organization has called on the government anew to reinvest in micro, small and medium enterprises (MSMEs), which represent 98 percent of total enterprises and are considered the backbone of the economy.
Sergio Ortiz-Luis, Jr., president of the Philippine Exporters Confederation Inc., said in a recent e-forum that despite comprising the overwhelming majority of businesses and accounting for up to 65 percent of total employment and 30 percent of gross domestic product, “the Philippine MSME sector is the most under-banked sector in the whole of Asia.”
Ortiz-Luis decried that empowering MSMEs is still not taken seriously, with development programs, legislature and laws initiated over the years to assist small enterprises being mostly “token efforts” that have not “even scratched the surface in terms of MSME development.”
P3 4 billion zero-interest loans to small businesses approved visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.