Department of Trade and Industry (DTI) Secretary Ramon Lopez called on Filipino-Chinese business owners and conglomerates to support micro, small, and medium enterprises (MSMEs) by purchasing their materials and input requirements locally.
“We urge our Filipino-Chinese businesses to partner with us in creating more opportunities for our countrymen. Source your raw materials and products from our MSMEs and include them in your respective businesses’ value chains,” said Sec. Lopez.
The trade chief encouraged the members of the Filipino-Chinese business community to adopt an inclusive business model, which is proven to provide sustainable assistance to MSMEs through continuing business transactions. He then cited a Chinese proverb that would aptly describe the government’s push for MSME development: ”Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime”.
Sec. Lopez, who served as guest speaker at the 32nd Biennial Convention of Federation of Filipino-Chinese Chamber of Commerce and Industry Inc (FFCCCII) on 22 March 2019, underscored government programs to develop the MSME sector.
DTI has an extensive holistic approach of assisting the MSMEs to become innovative and competitive through the 7Ms of Successful Entrepreneurship framework. The 7Ms covers Mindset change, Mastery, Mentoring, Money, Market access, Machine, and Models.
“It has been the vision of President Rodrigo Duterte to uplift the lives of all Filipinos, especially those at bottom of the pyramid, through entrepreneurship. Because empowering our MSMEs allow us to empower the nation. And the Filipino–Chinese business community, as our partners, will create significant difference in their lives,” Sec. Lopez added.
The Secretary also shared that the Pondo sa Pagbabago at Pag-asenso (P3) microfinance loan program initiated by President Duterte has already released Php 2 billion-worth of loans and has reached 65,000 beneficiaries in 2018.
“FFCCII has been a partner of DTI in providing jobs and creating economic activities in the country. We can expand this partnership with your members by helping us spread the microfinance loans of the government and be one of our Credit Delivery Partners,” said the trade chief.
Sec. Lopez acknowledged the role of the Filipino-Chinese business community in the country’s economic growth and for being a continued partner in bridging the relationship between the Philippines and China. He also noted some of China’s biggest investments in the country through various joint ventures such as the Hebei integrated iron and steel facility, an industrial park in Batangas, power plants, among others.
He further shared updates on economic policy reforms such as the Ease of Doing Business law and the proposed revision of the Public Service Act and the Retail Trade Act as well as the structural reforms to revive the manufacturing industry in the country.
Present during the convention were FFCCCII President Domingo Yap, Chairman Emeritus Dr. Lucio Tan, Immediate Past President Angel Ngu, Executive Vice President Dr. Henry Lim Bonliong, Vice Presidents David Chua, Dr. Cecilio Pedro and other officials of the Federation.♦