Cebu business sector lauds Duterte’s directive to capacitate the SMEs

CEBU, Philippines - The Cebu business sector was elated when President Rodrigo Duterte, in his first State of the Nation Address (SONA), directed Government Financial Institutions (GFIs) to come up with out-of-the box financing packages to capacitate the small and medium entrepreneurs.

"This will be a great way to provide opportunities for our members particularly the MSMEs to avail of such services. We eagerly await the details specially that we are on track with our partnership with DTI in terms of MSME Development," said Cebu Chamber of Commerce and Industry (CCCI) president Melanie Ng.

The President during emphasized this government's serious direction in helping the plight of small and medium enterprises, which impressed the Cebu business community as out-of-the-box financing packages could spell favorable programs for the small businesses.

Mandaue Chamber of Commerce and Industry (MCCI) president Glenn Soco also expressed high expectations from Duterte’s declaration saying the access to finance issue has been a perennial problem of the micro-small and medium entrepreneurs.

"What the MSMEs really need is access to capital and technical support.  The President's support to MSMEs is a step in the right direction to alleviate poverty and achieve inclusive growth," Soco said in an interview yesterday.

Soco said if the MSMEs were to be given the right support from government it will flourish and generate more revenue for the country and more jobs for the people. 

"These enterprises even have the potential to become global."

Aside from expressing their optimism towards this promise, Ng said the business sector is also willing to extend help to the government.

Ng cited CCCI’s partnership with DTI on the chamber’s mentorship program.

"The financial access program will be part of this initiative under the CCCI Business Development and Management Services Division," added Ng. (FREEMAN)