Incoming Trade Secretary Alfredo Pascual said the new administration aims to prioritize micro, small and medium enterprises (MSMEs) as well as the further improvement of the ease of doing business in the country.
Pascual, who has been named by President-elect Ferdinand “Bongbong” Marcos Jr. as the head of the Department of Trade and Industry (DTI) said in an interview with CNN Philippines on Friday night that support for MSMEs is among the priorities of the current administration that he intends to pursue.
“A big portion of our population generates income from MSMEs and we need to help them recover. They have been hard hit, they have very little reserves and there is a need to provide support. So that’s one program or focus of the administration of (outgoing Trade) Secretary (Ramon) Lopez that I will continue and enhance to the extent that I can,” Pascual said.
MSMEs account for over 99 percent of the country’s registered businesses and generate 62.66 percent of the total jobs.
Pascual, who currently serves as president of business group Management Association of the Philippines (MAP) said there is a need to mobilize support from the private sector in helping MSMEs.
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