The revitalization of the micro, small, and medium enterprises (MSMEs) is among the top priorities of the government, President Ferdinand “Bongbong” Marcos Jr. said on Friday, Aug. 26.

In his speech during the MSME Summit 2022, Marcos asserted that the government is fully committed to “work hand-in-hand with all stakeholders” to ensure that MSMEs are “protected and provided with ample opportunities.”

He claimed that this will not only help businesses to recover from the pandemic but also grow and thrive in the modern age.

With the summit theme "Ensuring an Enabling Recovery Environment for the MSMEs", Marcos said the gathering was an opportunity for the government and the private sector to work together to provide an “enabling and sound environment” for the MSMEs’ recovery.

He described the MSMEs as the "backbone of the economy" as it is generating more than half of local employment.

Marcos commended the MSME Development Council for formulating and implementing strategic goals to improve five key business areas namely business climate, access to finance, management and labor, access to technology and innovation, and market access.

“This multidimensional approach will allow us to breathe new life into our MSMEs and help them move forward to a more resilient and prosperous future,” he said.

Marcos said after two years of the pandemic, it is time to implement pandemic-proof strategies that will allow local businesses to “take wing and serve its consumer base with quality products and services.”

He stressed that the success of the MSMEs is crucial to strengthening the foundation of the economy.

Among the attendees of the event were Go Negosyo Founder Joey Concepcion III, the Department of Trade and Industry (DTI) Secretary Alfredo Pascual, the US Embassy in the Philippines MaryKay Loss Carlson, and all other partners.