Marcos wants focus on strengthening MSMEs in PH

PRESIDENT Ferdinand “Bongbong” Marcos Jr. has appointed Cristina Aldeguer-Roque as the acting secretary of the Department of Trade and Industry (DTI), following the resignation of DTI Secretary Alfredo Pascual.

Marcos recognized Roque’s dedication and leadership in the micro, small, and medium enterprises (MSMEs) sector in naming her as the new chief of the DTI.

Prior to her appointment, Roque served as the DTI undersecretary for MSME development group overseeing the Bureau of Small and Medium Enterprise Development, Bureau of Marketing Development and Promotions, the Otop Program Management Office, and the Comprehensive Agrarian Reform Program Management Office.

In a press conference in Quezon City on Saturday, August 3, Roque said Marcos’ marching orders was the uplifting of the condition and competitiveness of the country’s MSME’s through digitalization and the use of technology.

Roque noted the contribution of the MSMEs in the country.

“Remember if kung na-increase natin iyong benta or iyong income ng MSME even by 10 percent, ang laki nang contribution nito sa economy ng bansa – and this is an instantaneous increase,” she said.

(Remember if we increase the sales or income of MSMEs even by 10 percent, it significantly contributes to the country's economy – and this is an instantaneous increase.)

“This is a very important sector of the businesses in our country because this comprises 99.5 percent of the business in our country and 60 percent of the labor force therefore this cannot be ignored,” she added.

Roque also mentioned the DTI’s five-point strategy for MSMEs that she plans to implement, focusing on digitalization and artificial intelligence (AI), diversification, and the provision of funding.

Roque raised the need to go digital to disseminate information, sell products, and get the message across the country which is composed of more than 7,000 islands.

“So, we must go digital and we must also use AI to be able to help us or to assist us in m mostly like, example question-and-answer. So, instead of putting time and effort to answer questions or replying to different text messages or inquiries, we can use AI to be able to do this part while we focus on growing our business,” she said.

In terms of diversification, Roque said businesses cannot rely on a single income and must have a second source to ensure security and profitability.

To fund MSME operations, the government has been extending easy loans with low interest rates.

“When we started to come in SB Corp. (Small Business Corporation), we made loans easier for the MSME – before you need to have collateral,” Roque said.

“So, we have to understand that MSMEs don’t have collateral, they’re just, actually some are startups, some are just getting started so definitely they don’t have collateral,” she added. (TPM/SunStar Philippines)