Vice President Jejomar C. Binay said the micro, small, and medium enterprises (MSMEs) in the country were “missed opportunities” for jobs and livelihood opportunities in the last five years.
Binay said his presidency would foster a business-friendly environment that would allow MSMEs to grow and be profitable.
He said it need political and regulatory environment and the government help solve the problems.
“MSMes need access to funding, for capital and credit needs as their businesses grow. They need access to markets, both domestically and internationally, especially at the early stages of your enterprises. They need a supply of skilled manpower. And, these entrepreneurs need to learn not only the operations and technical skills but core management competencies as well,” he pointed out.
Binay noted that at present, MSMEs are concentrated in only five regions – NCR, Calabarzon and Regions 3, 6 and 7.
“We need to expand this to the entire country through active government intervention and support,” he said.
To accelerate the establishment of more MSMEs, Binay he also plans to push for bills designed to expand microfinancing assistance to small businesses.
“If the government just gives 10 percent of the attention it spends in pursuing the BBL or 10 percent of the budget of CCT then our MSMEs can be at par with their counterparts in the APEC or ASEAN,” he said.
Moreover, Binay said he will push for the allocation of at least five percent of the country’s Gross Domestic Product (GDP) to an integrated countrywide infrastructure development program.
“We will build new roads, bridges, ports and airports and upgrade old ones. These will provide MSMEs with greater access to their markets and extend the benefits of economic growth to the rural areas,” he said.
Binay said his administration will also provide incentives to foreign investors to build key infrastructure projects, including the capacity for alternative energy.
“This will help free limited government resources to support small businesses, particularly with their funding needs,” he said.
Finally, to address the need for skilled manpower, Binay said he plans to implement a dualized education curriculum in the country.
“The Dualized College Curriculum at the University of Makati, which matched academic and vocational studies with the personnel requirements of companies, was developed in partnership with over 300 domestic and multi-national companies and business associations based in Makati.
“We will apply the same approach to the problem of lack of skilled manpower. And to ensure the efficient implementation of this program, we will formalize the coordination of the Department of Education, the Commission on Higher Education, Technical Education and Skills Development Authority (TES
DA) and the private sector under the National Education Council,” he added.
At the same time, Binay said he will increase the budget of TESDA to be able to train more skilled workers needed by MSMEs.