Duterte vows support for MSMEs

President Rodrigo Roa Duterte, in his speech during the launching of the ASEAN Mentorship for Entrepreneurs Network (AMEN) and opening of ASEAN Business and Investment Summit (ABIS) at the Solaire Grand Ballroom in Pasay City on November 12, 2017, vows to pour in support for the micro, small and medium enterprises (MSMEs) citing that they are among the biggest contributors in achieving inclusive growth in the country. KING RODRIGUEZ/PRESIDENTIAL PHOTO

President Rodrigo Duterte reiterated his support for the micro, small and medium enterprises (MSMEs), saying it has a ‘significant’ contribution in achieving inclusive growth.

“Next year, I would like to make some late changes in the GAA – the annual budget. I would like to pour more money on this medium, small, and micro enterprise,” Duterte said as he graced the launching of the ASEAN Mentorship for Entrepreneurs Network (AMEN) and opening of ASEAN Business and Investment Summit (ABIS) at Solaire Grand Ballroom in Pasay City.

“Maybe a few billions here and there would suffice? Well, talagang bubuhos ako ng [I will really pour in] capital because we found out in our meetings with APEC, that the basic, basic unit of the economy has always been moved by the MSMEs,” Duterte added.

AMEN, a flagship program of the ASEAN Business Advisory Council (ASEAN BAC) under the Philippine Chairmanship, is intended to assist the increase of the MSMEs in the ASEAN region through mentorship.

Duterte called on world leaders and businessmen in the region to use their ‘enthusiasm’ to take lead in promoting MSMEs, saying they would be a ‘catalyst’ for inclusive progress in their countries and in the entire region.

“As an opportune time for government and business sectors leaders across the region to come together, it is my hope that the ASEAN Mentors for Entrepreneurship Network would become a catalyst for inclusive prosperity that can be shared by all,” the president said.

Duterte also spearheaded the opening of ABIS, which underlines the multichannel connectivity, infrastructure development, entrepreneurial empowerment, disruptive innovation, and policy directions in trade, issues that affect businesses and other priority concerns of the leaders today.

With the theme “World Leaders’ Roadmap Towards Prosperity for All,” the assembly upholds discussions among the private sector and with the regional leaders including heads-of-states, ministers of ASEAN Member States and ASEAN partners.