Marcos calls for revitalization of MSMEs in Apec meet
Philippines’ President Ferdinand Marcos Jr arrives to attend the “APEC Leaders’ Informal Dialogue with Guests” event during the Asia-Pacific Economic Cooperation (APEC) summit in Bangkok on November 18, 2022. (Photo by Rungroj YONGRIT / POOL / AFP)
BANGKOK, Thailand — President Ferdinand Marcos Jr. on Friday expressed deep concern about the issues hounding micro, small, and medium enterprises (MSMEs) and called for the revitalization of the sector amid the COVID-19 pandemic and digitalization age.
During the 29th Asia Pacific Economic Cooperation (Apec) Economic Leaders’ Meeting Retreat Session, Marcos said MSME revitalization is among his administration’s top priorities.
“They continue to face systemic problems and structural challenges, heightened by the pandemic. MSMEs need opportunities and assistance to recover, to grow, and to progress in the post-pandemic and digital age,” he said during session.
“This is in addition to facing complex challenges that going digital presents such as data privacy [and] cybersecurity issues, lack of digital infrastructure, digital fraud, online consumer protection concerns, digital inclusion and access to finance, and the persisting digital divide, among others,” he added.
Apec economies, Marcos said, acknowledged that supporting MSMEs’ digitalization efforts post-COVID-19 pandemic would need the cooperation of policymakers and private sector for the establishment of interventions and regulatory frameworks.
Marcos is on his third day in Bangkok, Thailand for the Apec Summit. He is scheduled to return to the Philippines on Saturday, November 19.
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