Marcos to MSMEs: Embrace digitalization

President Ferdinand "Bongbong" Marcos Jr. on Friday urged micro, small and medium enterprises owners to avail of the existing financial assistance and facilities that the government has provided to maximize their growth potential.

The President expressed his commitment to streamlining existing processes to make it easier for businesses to thrive and flourish as the government exerts its efforts to recover from the pandemic.

"Let me assure you that the government remains dedicated to streamlining existing processes and making it easier for businesses to thrive," Marcos said during the ribbon cutting of the Small and Medium Enterprises Hub at Savya Financial Center in Taguig City.

"We will continue to initiate worthwhile programs to give our kababayans enough space and resources to maintain, start, and even restart their ventures," he said.

The Chief Executive advised business owners to embrace information and communications technology for the country's digital transformation.

Marcos believes ICT can ensure the continuity of business amidst the Covid-19 pandemic and meet the growing demands of businesses and consumers.

He is optimistic that MSMEs hold real potential to become the Philippines' engines for inclusive economic growth recovery, as they account for more than 99.5 percent of all business establishments in the country based on 2021 figures.

Marcos added that MSMEs also provide over five million jobs for the nation's citizens, enabling a significant portion of the population to not just survive and fulfill their most basic needs, but also empower them to pursue their dreams.

At the same time, the President said the new financial hub is a welcome space where people, particularly those working in the MSMEs, can find and create meaningful opportunities for their businesses.

Marcos pointed out that the hub is in line with the national goal of advancing growth and development.

It is a testament, he said, to the fruits that can be harvested when people engage in meaningful collaborations.