July 10- 14 is a national week for Micro, Small and Medium Enterprise (MSME) and the Department of Trade and Industry (DTI) is celebrating it with the theme "Upscale, Upskill, and Upsize MSME."
This highlights engagement between government and private sector enable to empower entrepreneurs in the creation of competitive advantages in different business industries.
In line to the week-long celebration, Senate President Pro Tempore Loren Legarda stressed on the importance of MSME as it is the "backbone" of the country's economy.
"Ang pagtataguyod ng MSME ay mahalaga para patuloy na tumakbo ang ating ekonomiya dahil sila ang nag-uumpisa ng cash flow sa ating bansa," Legarda said.
"MSME programs provide another avenue for Filipinos to rise from poverty through honest means; getting out of the rut of being poor should be more accessible to all since if we have spending power, our economy will continue to flourish."
MSME leads the contribution on the job creation in the country, with 5,461, 731 or 64.67 percent total employment creation for 2021, according to the data provided by DTI.
In championing economic mobility, job creation and security, and improving the livelihood of the Filipinos, Legarda has sponsored the Republic Act 9501 or the magna carta for MSME. This tends to simplify the process of starting new businesses.
Among the entrepreneurial development acts that Legarda have worked on, she have filed Senate Bill 8 or the Pangkabuhayan Act in which Pangkabuhayan Council shall establish to supervise programs and policies for MSME.
"It is paramount to trickle down the economy to the common Filipino because it is their inherent right to live a life worth living, whether in the countryside or an urban setting... with an improved economic opportunity comes the responsibility of preserving what is provided to us by the country, such as the environment, its natural resources, and our cultural identity and heritage," Legarda further stated.
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