Skip to content

Philippines Today

home of the Global Filipino

Menu
  • News Stories
  • Regional News
  • Business & Economy
  • Science & Technology
  • International
Menu

President Aquino wants MSMEs to take leading role in country’s growth

Posted on March 24, 2015

By Jelly F. Musico

MANILA, March 24 (PNA) -– President Benigno Aquino III on Tuesday underscored the need for micro, small, and medium enterprises (MSMEs) to take a leading role in the country’s growing economy.

”We want MSMEs to take on a leading role in our country’s growth story,” President Aquino said in his speech during the Euromoney-hosted Philippines Investment Forum at The Peninsula Manila in Makati City.

The President said MSMEs is another key sector that can help in widening the range of financial options in the country.

”An empowered MSME sector is one of the main foundations of a healthy economy,” he said.

President Aquino said MSMEs enables the country to establish economic dynamos in even the most remote parts of the nation.

”It creates opportunities, giving our countrymen yet another path through which they can take hold of their destinies. Ultimately, it can become one of the strongest and most direct tools towards inclusive growth,” he said.

The President said the government is working overtime to provide the MSMEs “the wherewithal” to compete and succeed in an increasingly global market.

He said the SME Roving Academy has conducted more than 1,871 training sessions focused on skills training, product pricing and costing, business planning, entrepreneurship development, and financial management, among many others.

”To date, these have helped more than 85,000 potential and established entrepreneurs,” he said.

Last year, the President signed the Go Negosyo Act along with its implementing rules and regulations.

”Through these, we have started putting up what we call “Negosyo Centers,” or business centers, that will offer MSMEs a full range of services, including business registration processing, training sessions and seminars, and the establishment of market linkages,” he said.

By the end of this year, the President said the government intends on putting up 100 of these establishments across the archipelago.

”Rest assured, our administration will do everything in its power to build on our economic momentum by continuing to invest in the Filipino people,” he said.

The President took the opportunity to cite some achievements despite setbacks and challenges his administration have been facing.

Recently, the country posted an all-time high of US$ 6.2 billion foreign direct investment (FDIs), a performance that exceeded by 65.9 percent the 2013 FDIs.

The President also took note the impressive gross domestic product (GDP) growth from 2010 to 2013 with an average of 6.3 percent.

”On top of this: even in spite of the linger effects of typhoon ‘Haiyan’ (locally named Yolanda) and the uncertainty in the global economy, our country is still posted a respectable 6.1 percent GDP growth figure last year,” the President said.

He said the Philippines was likewise upgraded to investment grade by all three major credit ratings agencies in 2013.

”Bloomberg recently reported, I’m told, that the Philippines is forecasted to be the world’s second fastest growing economy in 2015,” President Aquino said. (PNA)

Share this:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • More
  • Tumblr
  • Reddit

Related

News Categories

  • Announcement (34)
  • Business & Economy (1,567)
  • Comment and Opinion (74)
    • Random Thoughts (18)
  • Current Issues (425)
    • Charter Change (1)
    • Election (228)
    • Population (6)
  • International (389)
  • Life In Japan (66)
    • Everything Japan (41)
  • Literary (34)
  • Miscellaneous (610)
  • News Stories (5,312)
  • OFW Corner (297)
  • Others (75)
  • People (408)
  • Press Releases (163)
  • Regional News (3,362)
  • Science and Technology (502)
  • Sports & Entertainment (287)

Latest News

  • BSP keeps policy rates anew December 17, 2015
  • NEDA cuts PHL additional rice import for 2016 by 25% December 17, 2015
  • DA cites serious implications of banning genetically modified products December 17, 2015
  • BBL is not yet dead – Drilon December 17, 2015
  • Comelec recognizes Duterte’s CoC for president December 17, 2015
  • NEDA chief sees 2015 growth at 6% despite typhoons December 17, 2015
  • House of Representatives ratifies bicam report on P3.002-T national budget for 2016 December 17, 2015
  • Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town December 17, 2015
  • City gov’t eyes P75-M income from economic enterprise December 17, 2015
  • Baguio City LGU presents traffic plan for holiday season December 17, 2015

Archives

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Science and Technology

  • DOST-ICTO targets 500,000 web-based workers from countryside by 2016
  • (Feature) STARBOOKS: A ‘makeover’ for librarians
  • Science, research reduce ‘cocolisap’ hotspot areas in PHL
  • Montejo to further improve PAGASA and empower scientists
  • 1st PPP in biomedical research produces knee replacement system fit for Asians

Press Releases

  • Microsoft to buy Nokia’s mobile devices business for 5.44-B euros
  • New World Bank climate change report should spur SEA and world leaders into action: Greenpeace
  • Save the Philippine Seas before it’s too late — Greenpeace
  • Palanca Awards’ last call for entries
  • Philippines joins the global call for Arctic protection

Comment and Opinion

  • Remembering the dead is a celebration of life
  • Killer earthquake unlikely to hit Panay Island in near future – analyst
  • It’s not just more fun to invest in the Philippines, it is also profitable, says President Aquino
  • How does one differentiate a tamaraw from a carabao?
  • Fun is not just about the place, it is also about the people, says DOT chief

OFW Corner

  • Ebola infection risk low in Croatia
  • Death toll rises to 41, over 100 still missing in landslide in India
  • Asbestos use in construction a labor hazard
  • 500,000 OFWs to benefit POEA on-line transactions — Baldoz
  • 25 distressed OFWs return home from Riyadh
©2025 Philippines Today | Design: Newspaperly WordPress Theme