PH gov’t’s recognition of MSMEs essential to their growth – Concepcion
President-elect Ferdinand “Bongbong” Marcos Jr. and Presidential Adviser for Entrepreneurship Joey Concepcion.
MANILA, Philippines — The national government’s move to recognize outstanding micro, small, and medium enterprises (MSMEs) is essential to their growth, according to MSME Development Council Vice Chair and Go Negosyo founder Joey Concepcion.
The Presidential Awards for Outstanding MSMEs 2024 will be held in Malacañan Palace on July 10. It is organized by the Department of Trade and Industry and the MSME Development Council “to recognize and celebrate exceptional MSMEs.”
READ: Unlocking MSMEs’ full potential
“When the President himself giving importance to MSMEs by recognizing the outstanding ones, this just emphasizes just how critical their role is in achieving our goal to become an upper-middle income nation,” Concepcion said in a statement on Sunday.
He also said that MSMEs account for almost “all of the enterprises in the country and generate more than half of the jobs for Filipinos.”
Article continues after this advertisement“The story of these finalists proved just how important it is for MSMEs to have access to money, markets, and mentoring in order for them to scale up,” Concepcion said.
Article continues after this advertisement“For MSMEs to fully realize their potential to power the economy, we must enable them to scale up: to help the micro become small, the small become medium, and the medium enterprises to join the ranks of the country’s large corporations,” he added.
Aside from this, the 2024 Presidential Recognition for Outstanding Development Partners will be given to five individuals who have “programs that improve the business climate, access to finance, markets, technology, and innovation, and management/labor capacities of MSMEs.”
“The grant of the awards is under the Magna Carta for MSMEs, or RA 9501. The winners will receive a trophy, plaque, and a cash prize from Go Negosyo,” Concepcion said.
“Only one hundred percent Filipino-owned and duly registered MSMEs are eligible for the awards. The board of judges is chaired by DTI Sec. [Fred] Pascual and the winners were chosen based on market development; technology and innovation; human resource development; sustainability, community linkages, and environmental impact; and financial management,” it added.
