Connectivity crucial for MSME growth

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Ensuring connectivity in an economy is a sure way to address poverty and end resulting issues.

This was pointed out Sunday by Presidential Adviser on Entrepreneurship Jose Ma. Concepcion 3rd as he noted the importance of establishing the necessary infrastructure to ensure sustained and inclusive growth.

In a briefing for the three-day Asean Business and Investment Summit 2017 that started Sunday afternoon, Concepcion chair noted that 99.6 percent of businesses in the country were micro, small and medium enterprises (MSMEs).

Given the Philippines’ archipelagic nature, he said there was a need not only for brick-and-mortar structures but also digital solutions.

“We have to give these people a chance to have a better outlook in life, improve their status and standard of living and I believe connectivity is key in achieving that,” he said.

The State Counselor of Myanmar, Aung San Suu Kyi, talks with Jose Ma. Concepcion 3rd, chairman of the Asean Business Advisory Council, after giving her speech durign the Asean Business and Investment Summit 2017 at the Solaire Resort and Casino in Pasay City, November 12 2017. POOL PHOTO

Concepcion, who is president of listed food and beverage company RFM Corp. and chairman of the Asean Business Advisory Council, said the Duterte administration was taking the small businesses’ welfare in consideration.

He said the government was following the lead of China, which is implementing its One Belt, One Road initiative as a means of moving more people and goods.

The economic integration of the 10-member Association of Southeast Asian Nations will give Philippine MSMEs more chances of tapping opportunities in the region, he added.

PNA

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