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Wednesday, September 18, 2019

Innovation as key to global economic opportunities

THE Micro, Small and Medium Enterprises (MSMEs) should move forward with innovation to harness global economic opportunities.

Department of Trade and Industry (DTI) Regional Director Maria Belenda Ambi told reporters Monday, November 7, during the Kapehan sa Dabaw at SM City Annex, MSMEs can only compete in the global market through innovative products and services.

“We can compete in the global market if we can push for innovation because this is the battle cry of all the countries, it is only right that the Philippines should also cope with the demand as we are now in the innovative stage of the development,” she said.

She emphasized promoting innovation and creativity is among the topic to be discussed during the National MSME Summit 2016 which is slated on November 10 to 11 at the SMX Convention Center, Lanang, Davao City.

The summit will also tackle issues and topics relevant to MSME development including “Inclusive Financing,” “Enhancing Productivity and Efficiency,” and “Entrepreneurial Ecosystem.”

Among the national officials who will grace the two-day event are President Rodrigo Duterte, DTI Secretary and MSME Development Council Chair Ramon Lopez and Presidential Adviser for Entrepreneurship Jose Ma. Concepcion III, who are all set to lead the town hall session of the summit that will be happening on the second day.

The town hall session will serve as a dialogue and forum between the President, DTI secretary, presidential adviser for entrepreneurship and the Shared Service Facilities and Negosyo Center beneficiaries.

DTI Undersecretary for Regional Operations Group Zenaida Maglaya, on the first day of the summit, will lay down the MSME development report 2011 to 2016 “to highlight the importance of a holistic and program interventions that addresses structural issues of the Philippine economy, the Filipino mind-set and engages the private sector in developing local MSMEs to become viable and global enterprises.”

MSMED Plan 2017-2022

Ambi said during the second day of the summit, Maglaya will present the MSME development plan 2017 to 2022, which will serve as the blueprint of the government and private sector.

“The plan is a result of series of regional consultations nationwide, it will guide the industry on how to develop the MSMEs,” she said.

The plan will cover four pillars of MSME development: access to marketing, access to financing, policy or business environment and improving productivity.

“These are still the areas where government and private sector where the support should pour in,” Ambi said.

Ambi added under the “access to marketing” pillar, promotion of the Electronic (E)-commerce will come in.

“In several occasions, the president already articulated that more services or more programs will be done within his term to support the MSME with focus on those who are under the micro-business,” she said.

Micro-businesses are those enterprises with only P3 million capitalization and below.
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