Marcos lauds US’ help for MSMEs

PRESIDENT Ferdinand “Bongbong” Marcos Jr. on Friday hailed the efforts of the United States government in helping the Philippines' micro, small and medium enterprises (MSMEs).

The President personally thanked US Ambassador to the Philippines MaryKay Carlson for her government's push to further strengthen US-Philippine relations through the United States Agency for International Development's (USAid) initiatives for the digital transformation of MSMEs and the enhancement of their access to financial services.

MSME SUMMIT (From left to right) President Ferdinand ‘Bongbong’ Marcos Jr., Trade Secretary Alfredo Pascual, US Ambassador to the Philippines Marykay Carlson and Go Negosyo founder Jose Maria ‘Joey’ Concepcion 3rd stand together during the Macro Small Medium Enterprise (MSME) Summit 2022 at the Manila Hotel on Friday, Aug. 26, 2022. The event, organized by Go Negosyo, carries the theme ‘Ensuring an Enabling Recovery Environment for the MSMEs.’ It seeks to foster strategic ideas in establishing pandemic-proof strategies for post-Covid business recovery and cultivate entrepreneurship via the 3Ms: Mentorship, Money and Market. PHOTO BY JOHN RYAN BALDEMOR

MSME SUMMIT (From left to right) President Ferdinand ‘Bongbong’ Marcos Jr., Trade Secretary Alfredo Pascual, US Ambassador to the Philippines Marykay Carlson and Go Negosyo founder Jose Maria ‘Joey’ Concepcion 3rd stand together during the Macro Small Medium Enterprise (MSME) Summit 2022 at the Manila Hotel on Friday, Aug. 26, 2022. The event, organized by Go Negosyo, carries the theme ‘Ensuring an Enabling Recovery Environment for the MSMEs.’ It seeks to foster strategic ideas in establishing pandemic-proof strategies for post-Covid business recovery and cultivate entrepreneurship via the 3Ms: Mentorship, Money and Market. PHOTO BY JOHN RYAN BALDEMOR

“When we first spoke, I talked about partnerships that need to be forged for the future,” Marcos said at the MSME Summit 2022 held at the Manila Hotel which Carlson attended.

“This is precisely the kind of partnership that I meant, and I hope that we will promote this partnership between our two countries on bilateral, multilateral basis, and I see this very much as the way forward,” he said.

Carlson said the USAid had partnered with American companies and non-profit organizations to assist 10,000 Philippine MSMEs during the economic downturn.

The agency also helped Philippine microfinance institutions disburse P40 million in grants to 3,500 MSMEs so they could bounce back from the effects of the coronavirus pandemic, the climate crisis, “and other challenges,” she said.

The ambassador said she recognizes small businesses to be “the backbone of the Philippine economy.”

Marcos said the US is teaming up with the Philippines “in paving a richer path for collaboration and innovation in the business sector.”

He expressed his desire for more public-private partnerships for MSMEs to ensure “an enabling and sound environment for the recovery of our MSMEs.”

“I am pleased that the focus of the MSMEs Summit is post pandemic recovery, and the promotion of digitalization is aligned with the priorities of the administration for we have a common view of our shared future, the future that we as Filipinos will share together,” the President said.

“These multidimensional approach will allow us to breathe new life into our MSMEs and help them move forward to a more resilient and prosperous future,” he added.

Marcos is scheduled to make his first official trip to the US as president in less than a month.

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