by Kris M. Crismundo
MANILA, June 10 (PNA) — Senator Cynthia Villar urges players in the local franchising industry to tap the agriculture sector and expand to agri-business franchising in order to help a large percentage of the population dependent on agriculture.
Speaking before the Franchise Asia Philippines 2015 held at SMX Convention Center, Pasay City on Wednesday, Villar, chair of the Senate Committee on Agriculture and Food, said franchising industry should tap opportunities in agriculture sector and should also expand in rural areas.
“I’m really encouraging entrepreneurs to tap the rural market in order to slow the trend of urbanization which is placing a great stress in public services in urban areas which are really getting congested as the population increases,” Villar said.
“I also urged to explore business and franchising opportunities in agriculture sector,” she added. “There is still untapped potential in the agriculture sector.”
According to the lawmaker, about two-thirds of the country’s population is living in agricultural areas and involve in agriculture sector.
“That dormant force is one of the major contributors for our goal of making our growth inclusive, particularly for Filipino farmers and fisherfolks who’ve always been considered as the poorest in the country,” she said.
Further, Villar commended the bullish performance of the local franchising industry, which grew by double-digit over the years and local franchising brands expanding outside the country.
She added that the franchising industry also helped micro, small and medium enterprises (MSMEs) to further grow.
Currently, 96 percent of businesses in the Philippines are MSMEs which generated 60 percent of the total jobs in the market.
MSMEs post five percent of the country’s gross domestic product (GDP). (PNA)