The country’s leading digital platforms have jointly aired their support for efforts by MSMEs and even nano-entrepreneurs in digitalizing their operations.

One of the thrusts of the government of President Ferdinand Marcos Jr. is the enabling and empowerment of MSMEs’ participation in the digital economy.

During a meeting last Friday with Go Negosyo chairperson Joey Concepcion, key officers from Grab, Angkas, Shopee, Lalamove, Maya, Maya Bank, GCash, Packworks, LaunchGarage, Peddlr, Gentree Fund, Sarisuki, Kickstart Ventures, and Ideaspace, Agri-focused digital platforms Mayani, Agrabah Ventures and Farm Konek, shared their pathways and solutions as well as insights into the challenges that digital platforms face in their efforts to integrate MSMEs into digital services.

Present in the meeting aside from Concepcion, who was appointed a member of the MSME Development Council which is responsible for the promotion, growth and development of MSMEs in the country, were senior advisers Dr. William Dar and Josephine Romero.

Important role

“Digital technology will play an important role in making the economy more inclusive,” Concepcion said.

He cited, in particular, the Kapatid Angat Lahat sa Agri Program, and shared that digital technology will be a major strategy in achieving competitiveness and raising productivity in the country’s agriculture sector.

The honchos of the said innovative companies also vowed willingness to help MSMEs, citing the latter as altogether a fast-growing sector.

The group as a whole said the country needs to improve ease-of-doing-business for small businesses and improve infrastructure and connectivity, especially in the country’s far-flung areas.

Earlier, President Marcos Jr. told foreign investors that the country’s monumental reforms, primarily the Corporate Recovery and Tax Incentives for Enterprises or CREATE Act provide much-needed relief for the country’s MSMEs through a reduction in the corporate income tax rate and said this would end investor uncertainty.

Backed by strong government support, the Philippine digital sector apparently contributes significantly to the economy.

In 2020, the digital economy in the country was estimated to be worth $7. 5 billion and is expected to grow by 30 percent annually to reach $28 billion by 2025.