Marcos urges world leaders to boost support for MSME digitalization

BANGKOK — President Ferdinand "Bongbong" Marcos Jr. called on world leaders on Friday to boost support for the digitalization of micro, small, and medium enterprises (MSMEs), which he said would be a priority of his administration.

In his intervention during the APEC Economic Leaders’ Meeting (AELM) Retreat Session, Marcos highlighted the importance of adapting to e-commerce as he cited the role that MSMEs play in reviving the economy, creating employment opportunities, and alleviating poverty.

“However, they continue to face systemic problems and structural challenges heightened by the pandemic. MSMEs need opportunities and assistance to recover, grow, and progress in the post-pandemic and digital age,” he said.

“This is in addition to facing complex challenges that going digital presents, such as data privacy and cybersecurity issues, lack of digital infrastructure, digital fraud, online consumer protection concerns, digital inclusion, and access to finance and the persisting digital divide, among others,” he added.

The session was attended by leaders of other APEC members such as Australia, Brunei Darussalam, Canada, Chile, the People’s Republic of China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Peru, Russia, Singapore, Chinese Taipei, Thailand, the United States, and Vietnam.

Marcos’ remarks were in line with earlier statements from the Office of the Press Secretary (OPS) that he would engage other leaders on how to tackle food and energy security and the economic inclusion of Philippine MSMEs.

There were close to 150,000 MSMEs expected to have permanently shut down due to the COVID-19 pandemic, according to estimates from research group IBON Foundation.

Data from the Department of Trade and Industry (DTI) showed that out of the 1.080 million businesses that operated in the Philippines in 2021, 99.58% were MSMEs. This includes 978,612 or 90.54% micro enterprises, 93,230 or 8.63% small, 4,437 medium, and 4,531 or 0.42% large.

In the same event, Marcos said that the response of economies to environmental challenges brought about by globalization will determine the fate of the planet.

“How economies respond is critical in determining the fate of the planet we live on and will pass on to our future generations,” he said.

“The world currently faces the greatest environmental challenges of all time — that it continues to pose threats to the planet, and that is one existential element that we all have to deal with,” he added.

Marcos earlier warned of “dark clouds” such as food security and climate change, as he called on leaders to band together and address such concerns.
 
“As one of the economies at greatest risk from the climate crisis, the Philippines is committed to advancing these cooperative solutions,” he said Friday.
 
Marcos arrived in Bangkok on Wednesday evening, accompanied by First Lady Marie Louise “Liza” Araneta-Marcos, where he is set to have at least six bilateral meetings, including one with Saudi Arabia and one with France on Friday.
 
On Thursday afternoon, Marcos met with his Chinese counterpart Xi Jinping. According to the Philippine leader, the meeting was more about getting to know one another and discussing some regional issues.
 
Xi was reported to have mentioned during the meeting that the two countries should stick to “friendly consultations” when dealing with issues involving the South China Sea. — VBL, GMA Integrated News