MSME initiatives to pour if Garcia-Soco wins in poll

CEBU, Philippines - Cebu could expect more policies and advocacies catering to the needs of businesses, especially the micro, small and medium enterprises (MSMEs) in the province, if and when the Garcia-Soco tandem wins the election on May 10, 2010.

In a round table discussion dubbed “Know Your Candidate” hosted by The Freeman last Wednesday, Cebu Governor Gwendolyn Garcia said one of these advocacies for business is converting the entire Cebu province into an economic zone, a proposal initiated by the Cebu Chamber of Commerce and Industry (CCCI).

Garcia said the need to focus on MSMEs is one of the reasons that prompted her to choose businessman Glenn Soco to be her running mate.

“I now have someone whom I can entrust the MSMEs. Coming from the sector himself, he can relate to them. I will put him in charge in encouraging and helping MSMEs to continue to develop their businesses. He can come up with the necessary policies to help MSMEs,” she said.

One of the advocacies that Garcia promised to work on is to help CCCI push for the approval of the Senate Bill 3517 otherwise known as the Cebu Economic Development Zone Act entitled as an act establishing the Cebu economic development zone covering all the cities and municipalities in the island of Cebu, creating the Cebu Economic Zone Authority.

Firms located in ecozones enjoy income tax holidays. They also have the option to pay a special five percent tax on gross income, instead of national and local taxes.

Garcia, who also came from the private sector before entering politics, said it has been her policy to partner with the business sector and involve them in the policy-making and activities of the province. In her trade missions and visits to businessmen in other countries such as Johannesburg and Capetown in South Africa and in Israel, she brought with her Cebuano businessmen to expose them to other business cultures.

She said having Soco in the Capitol will allow her to expand focus to other equally relevant issues without taking her eyes off issues that affect the development of MSMEs, which basically supports the economy of the province. MSMEs comprise 99% of the total business enterprise in the Philippines.

Soco, named one of the 75 Most Admired Entrepreneurs of the Philippines by Entrepreneur magazine, is the president of manpower service company, MIMS and the executive vice president of G.A. Satellite Ventures Inc. Plus, which owns Coffee Dream.