Binay vows to boost SMEs

MANILA, Philippines – Vice President Jejomar Binay vowed yesterday to expand microfinancing assistance to micro, small and medium enterprises (MSMEs) and to increase employment opportunities if he wins the presidency.

He also intends to increase the budget of the Technical Education and Skills Development Authority (TESDA) to be able to train more skilled workers for the MSMEs.

The MSMEs were “missed opportunities” for jobs and livelihood opportunities in the last five years, Binay said.

“If the government just gives 10 percent of the attention it spends in pursuing the BBL (Bangsamoro Basic Law) or 10 percent of the budget of CCT (conditional cash transfer program) then our MSMEs can be at par with their counterparts in the APEC (Asia Pacific Economic Cooperation) or ASEAN (Association of Southeast Asian Nations),” he said.

His presidency would foster a business-friendly environment to allow MSMEs to grow and be profitable, Binay said.

“MSMEs need a political and regulatory environment and a government that helps solve their problems instead of being part of the problems,” he said.

“MSMEs need access to funding, for capital and credit needs as their businesses grow. They need access to markets, both domestically and internationally, especially at the early stages of your enterprises. They need a supply of skilled manpower. And these entrepreneurs need to learn not only the operations and technical skills but core management competencies as well.”