President Ferdinand "Bongbong" Marcos Jr. wants the Department of Trade and Industry to link owners of assist start-ups and micro, small and medium enterprises to private financiers and investors.

The Chief Executive said the agency must establish a public-private partnership style system to help business owners expand their businesses.

"We should be ready to bring our support one step further. There should be a support system to assist start-ups and our MSMEs by opening doors to new connections, get them to the digital world to help them connect with private companies for support," he said during a situation briefing by the DTI Western Visayas on the sidelines of MassKara Festival in Bacolod City over the weekend.

Marcos noted that connecting small business owners to private financiers and investors will help them sustain and grow their businesses.

He added that a system should be put in place to establish a platform that will connect all MSMEs to all information and private companies and entities that would help them enhance their business.

The President said the DTI should ramp up efforts to introduce the new businesses to the public so that those who may be interested in joining or supporting the business may do so.

"Make people aware of these businesses kasi madaming magaganda so that we can find people to partner with them," he said.

In his inaugural state of the nation address, Marcos reiterated the government's "commitment to work hand-in-hand with all stakeholders to make certain that MSMEs are protected and provided with ample opportunities."
He recognized MSMEs as one of the parts forming the backbone of our economy, generating more than half of the country's employment.

He acknowledged the sector's critical role in the country's economic regeneration, job creation, and poverty reduction is critical.

Government data shows that MSMEs account for 99.5 percent of business establishments in the Philippines.

Marcos eyes EPIRA amendment

President Ferdinand "Bongbong" Marcos Jr. remains firm on his position to amend the Electric Power Industry Reform Act in a bid to effectively reduce electricity costs in the country.

Marcos met the city's local officials to discuss concerns about amending EPIRA (Republic Act 9136) to utilize renewable energy to bring down the cost of power.

The Office of the Press Secretary said Bacolod City Mayor Albee Benitez informed the President that the city government officials are considering entering into joint venture agreements with solar power generators to enable them to buy the power at lower prices.

Benitez pointed out that the EPIRA Law does not allow producers to sell to the users but directly goes to the grid, according to OPS.

The President advised Benitez to get the opinion of the Energy Regulatory Commission, noting that it would be the basis of an amendment to the EPIRA Law.

EPIRA mandates the ERC to promote competition, encourage market development, ensure consumer choice and penalize abuse of market power in the electricity industry.

Its amendment is one of the priority legislative measures approved in the recent Legislative-Executive Development Advisory Council meeting in Malacañang Palace.
headline
The OPS, however, has yet to specify which provisions the President would like to amend.