Farming, infra, interest rates top policy recommendations of MSMEs

Micro, small, and medium enterprises (MSMEs) want the Duterte administration to focus on improving agriculture, build more infrastructures, and ease access to credit with low interest rates, the central bank’s Investor Relations Office said Friday.

MSMEs gave policy recommendations during the Sulong Pilipinas 2018 this month in Cebu on November 9, San Fernando in La Union on November 14, and Clark in Pampanga on November 26.

Sulong Pilipinas is a modern town hall consultative activity.

The top policy suggestions of MSMes are the following:

• Prioritize farming education and new agricultural technology to improve output and farmers’ income

• Build more infrastructures to improve access and mobility across regions and minimize congestion

• Simplify loan requirements, offer low and reasonable interest rates for MSMEs and farmers

• Improve access to education, particularly for the poor

• Stricter profiling of 4Ps (Pantawid Pamilyang Pilipino Program) recipients and consider monitoring their expenses, and provide recipients with livelihood training

• Speedy processing and issuance of license to operate and certificate of product registration by the Food and Drug Administration

• Ensure proper planning of infrastructure projects to lessen business disruptions

• Simplify Bureau of Internal Revenue processes

• Enhance peace and order through greater police and military visibility in rural areas, intensive monitoring of illegal business in coastal areas, and extend martial law in Mindanao

• Provide health services in every part of the country and more funding for the Department of Health to build health centers and hospitals in decongesting district hospitals

• Provide tax incentives for MSME development

• Streamline government processes

Sulong Pilipinas gives private sector participants the chance to recommend policy recommendations and feedback on various areas of governance such as economic development, infrastructure, local governance, peace and order, agriculture, social services, and MSME development.

“Sulong Pilipinas embodies the continuing effort of the Duterte administration to make our economic development story holistic and inclusive,” Finance Secretary Carlos Dominguez III said in a statement.

“The previous years’ conferences have enabled the government to champion programs that will truly benefit the business sector. All comments and recommendations made in the previous forums were taken into consideration and were integrated in President Duterte’s development agenda,” he said.

The first Sulong Pilipinas was held in May 2016 by incoming Cabinet members of the Duterte administration.

Since then, yearly Sulong Pilipinas events have been spearheaded by the Finance department and co-organized by other government agencies.

“This year we have stepped up our efforts to connect with the private sector,” Dominguez said.

“To improve representation of all parts of the country and increase stakeholders’ access, we decided to hold regional forums with the purpose of primarily gathering the inputs and recommendations of representatives from our small and medium enterprises or SMEs. This sector is a crucial component of our economy, representing 99 percent of business entities and employing the bulk of our workers,” he said. —Ted Cordero/VDS, GMA News